Confluent (NASDAQ:CFLT) Price Target Cut to $36.00 by Analysts at Mizuho

Confluent (NASDAQ:CFLT - Free Report) had its price objective lowered by Mizuho from $38.00 to $36.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group increased their target price on Confluent from $21.00 to $26.00 and gave the company a neutral rating in a research note on Monday, February 5th. Royal Bank of Canada increased their target price on Confluent from $35.00 to $37.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Loop Capital initiated coverage on Confluent in a research note on Tuesday, January 30th. They set a hold rating and a $23.00 target price for the company. Wells Fargo & Company increased their target price on Confluent from $30.00 to $36.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Finally, JMP Securities raised their price target on Confluent from $25.00 to $38.00 and gave the company a market outperform rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Confluent presently has an average rating of Moderate Buy and a consensus target price of $30.64.

Confluent Trading Down 0.5 %

CFLT traded down $0.15 on Monday, reaching $28.41. 4,967,316 shares of the company's stock were exchanged, compared to its average volume of 5,089,817. The company's 50 day moving average is $31.29 and its 200-day moving average is $26.42. The company has a market cap of $8.88 billion, a price-to-earnings ratio of -19.83 and a beta of 0.91. Confluent has a twelve month low of $14.69 and a twelve month high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The firm had revenue of $213.18 million during the quarter, compared to analyst estimates of $204.62 million. Equities analysts predict that Confluent will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the transaction, the insider now owns 479,537 shares of the company's stock, valued at approximately $15,225,299.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michelangelo Volpi sold 637,268 shares of Confluent stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.73, for a total transaction of $20,220,513.64. Following the completion of the sale, the director now directly owns 302,306 shares in the company, valued at approximately $9,592,169.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.75, for a total value of $2,023,395.75. Following the sale, the insider now owns 479,537 shares of the company's stock, valued at $15,225,299.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Confluent

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Confluent by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 19,071,645 shares of the company's stock valued at $446,276,000 after buying an additional 647,251 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Confluent by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,994,745 shares of the company's stock valued at $350,878,000 after buying an additional 3,870,881 shares during the last quarter. Altimeter Capital Management LP lifted its holdings in shares of Confluent by 11.5% during the 1st quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company's stock valued at $348,818,000 after buying an additional 1,496,443 shares during the last quarter. BlackRock Inc. raised its stake in shares of Confluent by 1.0% in the 3rd quarter. BlackRock Inc. now owns 8,189,217 shares of the company's stock valued at $194,656,000 after acquiring an additional 78,339 shares in the last quarter. Finally, Durable Capital Partners LP raised its stake in shares of Confluent by 6.8% in the 1st quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company's stock valued at $300,496,000 after acquiring an additional 465,214 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

About Confluent

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.