Confluent, Inc. (NASDAQ:CFLT) Receives $30.11 Consensus Price Target from Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $30.11.

CFLT has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Oppenheimer cut their price objective on Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Truist Financial decreased their target price on Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. William Blair reaffirmed an "outperform" rating on shares of Confluent in a report on Monday, March 17th. Finally, Guggenheim dropped their price target on Confluent from $38.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st.

Confluent Stock Down 2.3%

Shares of CFLT stock traded down $0.53 during trading hours on Monday, hitting $22.55. 629,956 shares of the company were exchanged, compared to its average volume of 4,824,948. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of -20.86 and a beta of 1.02. Confluent has a one year low of $17.79 and a one year high of $37.90. The business's 50-day simple moving average is $22.13 and its two-hundred day simple moving average is $27.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million for the quarter, compared to analysts' expectations of $264.45 million. During the same quarter last year, the company posted $0.05 earnings per share. Confluent's revenue was up 24.8% on a year-over-year basis. Sell-side analysts predict that Confluent will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total transaction of $6,826,200.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company's stock, valued at approximately $13,285,047.68. This represents a 33.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kong Phan sold 3,175 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the sale, the chief accounting officer now owns 246,516 shares of the company's stock, valued at approximately $6,621,419.76. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 584,124 shares of company stock worth $15,363,887. 9.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CFLT. M&T Bank Corp boosted its stake in Confluent by 12.3% in the fourth quarter. M&T Bank Corp now owns 21,540 shares of the company's stock valued at $602,000 after acquiring an additional 2,367 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Confluent by 135.7% in the 4th quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock valued at $18,146,000 after purchasing an additional 373,682 shares during the period. Truist Financial Corp boosted its position in shares of Confluent by 2.5% in the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company's stock worth $589,000 after purchasing an additional 514 shares during the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of Confluent in the 4th quarter worth $252,000. Finally, KBC Group NV grew its stake in shares of Confluent by 683.8% during the fourth quarter. KBC Group NV now owns 122,090 shares of the company's stock worth $3,414,000 after purchasing an additional 106,513 shares during the period. Institutional investors own 78.09% of the company's stock.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.