Stifel Nicolaus Issues Positive Forecast for Confluent (NASDAQ:CFLT) Stock Price

Confluent (NASDAQ:CFLT) had its price objective increased by Stifel Nicolaus from $34.00 to $37.00 in a research note published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Scotiabank increased their price target on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Sanford C. Bernstein decreased their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wolfe Research upgraded Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. TD Cowen increased their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup lifted their price objective on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.23.

Confluent Stock Performance

NASDAQ CFLT opened at $29.50 on Wednesday. The company has a fifty day moving average price of $27.49 and a 200-day moving average price of $24.75. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of -26.58 and a beta of 0.88. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent has a 1 year low of $17.79 and a 1 year high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, equities research analysts predict that Confluent will post -0.9 EPS for the current fiscal year.

Insider Activity at Confluent

In other Confluent news, Director Michelangelo Volpi sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the sale, the director now owns 280,200 shares in the company, valued at $7,262,784. This trade represents a 15.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Craig Miller sold 1,084,259 shares of Confluent stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. Following the sale, the director now directly owns 12,559 shares of the company’s stock, valued at approximately $362,955.10. This trade represents a 98.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,580,955 shares of company stock valued at $132,819,322. Company insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

A number of hedge funds have recently bought and sold shares of CFLT. EP Wealth Advisors LLC raised its stake in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after acquiring an additional 503 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Confluent by 9.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after purchasing an additional 1,113 shares during the period. Truist Financial Corp raised its position in Confluent by 5.3% in the 2nd quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock worth $721,000 after purchasing an additional 1,238 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in Confluent by 8.4% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock worth $551,000 after purchasing an additional 1,448 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Confluent by 14.0% during the second quarter. Daiwa Securities Group Inc. now owns 13,800 shares of the company’s stock valued at $408,000 after buying an additional 1,700 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.