Confluent (NASDAQ:CFLT) Price Target Lowered to $36.00 at Mizuho

Confluent (NASDAQ:CFLT) had its price objective cut by equities researchers at Mizuho from $38.00 to $36.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s target price would indicate a potential upside of 26.09% from the company’s current price.

Several other research firms also recently issued reports on CFLT. DA Davidson restated a “buy” rating and set a $37.00 price objective on shares of Confluent in a report on Monday, April 1st. UBS Group increased their target price on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Loop Capital began coverage on Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price on the stock. JMP Securities raised their price objective on Confluent from $25.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus started coverage on Confluent in a research note on Wednesday, February 21st. They issued a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

Confluent Stock Up 0.5 %

NASDAQ:CFLT opened at $28.55 on Monday. Confluent has a 1-year low of $14.69 and a 1-year high of $41.22. The company has a 50-day moving average of $31.48 and a 200 day moving average of $26.41. The firm has a market cap of $8.93 billion, a PE ratio of -19.42 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $213.18 million for the quarter, compared to analysts’ expectations of $204.62 million. Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. As a group, research analysts anticipate that Confluent will post -0.92 EPS for the current fiscal year.

Insider Activity

In related news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now owns 123,497 shares in the company, valued at $3,970,428.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Chad Verbowski sold 5,963 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $191,710.45. Following the transaction, the chief technology officer now owns 404,412 shares of the company’s stock, valued at $13,001,845.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ying Christina Liu sold 4,109 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the transaction, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is currently owned by company insiders.

Institutional Trading of Confluent

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in Confluent during the first quarter worth about $30,000. Geneos Wealth Management Inc. acquired a new stake in shares of Confluent in the first quarter valued at about $43,000. UniSuper Management Pty Ltd purchased a new position in Confluent in the third quarter valued at about $36,000. Rakuten Securities Inc. purchased a new position in Confluent in the fourth quarter valued at about $31,000. Finally, Quest Partners LLC purchased a new position in Confluent in the fourth quarter valued at about $31,000. 78.09% of the stock is currently owned by hedge funds and other 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.