Confluent (NASDAQ:CFLT) Coverage Initiated by Analysts at Stephens

Stephens initiated coverage on shares of Confluent (NASDAQ:CFLT - Free Report) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $31.00 price objective on the stock.

CFLT has been the topic of a number of other research reports. Morgan Stanley cut their price objective on shares of Confluent from $32.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. TD Securities lowered their price objective on shares of Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays decreased their target price on shares of Confluent from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Raymond James Financial began coverage on shares of Confluent in a research report on Friday, April 11th. They issued an "outperform" rating and a $30.00 target price for the company. Finally, Guggenheim decreased their price objective on shares of Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.21.

Confluent Price Performance

Shares of CFLT traded down $0.05 during mid-day trading on Friday, reaching $25.38. 4,349,711 shares of the company's stock were exchanged, compared to its average volume of 5,014,736. The company has a market cap of $8.64 billion, a price-to-earnings ratio of -25.90 and a beta of 0.99. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.07. Confluent has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a 50-day simple moving average of $23.85 and a two-hundred day simple moving average of $25.62.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The company had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative net margin of 31.42% and a negative return on equity of 29.92%. Confluent's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. On average, 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, Director Lara Caimi sold 2,864 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $24.10, for a total value of $69,022.40. Following the completion of the transaction, the director directly owned 4,296 shares of the company's stock, valued at approximately $103,533.60. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Ban Ryan Norris Mac sold 1,225 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $28,775.25. Following the completion of the transaction, the executive directly owned 411,830 shares of the company's stock, valued at approximately $9,673,886.70. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,669 shares of company stock worth $12,637,193 in the last 90 days. 9.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Confluent

A number of institutional investors and hedge funds have recently modified their holdings of CFLT. Credit Industriel ET Commercial bought a new stake in Confluent in the fourth quarter valued at approximately $28,000. Cloud Capital Management LLC bought a new stake in Confluent in the first quarter valued at approximately $26,000. Farther Finance Advisors LLC increased its position in shares of Confluent by 252.3% during the second quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company's stock worth $36,000 after acquiring an additional 1,037 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Confluent by 2,458.2% during the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after acquiring an additional 1,647 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Confluent during the first quarter worth $43,000. 78.09% of the stock is owned by institutional investors.

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.