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

Confluent (NASDAQ:CFLT) had its target price raised by equities research analysts at Barclays from $35.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 22.92% from the company’s current price.

A number of other research analysts also recently commented on the stock. Scotiabank upped their price objective on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Citigroup increased their target price 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. Royal Bank of Canada upped their price target on Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Mizuho increased their target price on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, UBS Group increased their target price on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.89.

Confluent Stock Performance

Shares of Confluent stock opened at $30.10 on Wednesday. The firm’s fifty day simple moving average is $29.49 and its 200-day simple moving average is $25.28. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of -27.12 and a beta of 0.92. Confluent has a 12 month low of $17.79 and a 12 month high of $35.07. 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 (NASDAQ:CFLT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, equities analysts forecast that Confluent will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other Confluent news, insider Erica Schultz sold 63,729 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the completion of the transaction, the insider now owns 687,483 shares of the company’s stock, valued at $18,837,034.20. This represents a 8.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kong Phan sold 2,096 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $59,170.08. Following the transaction, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at $5,382,896.40. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,508,636 shares of company stock worth $47,198,798 over the last three months. Company insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in Confluent by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after acquiring an additional 458 shares in the last quarter. EP Wealth Advisors LLC lifted 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 buying an additional 503 shares during the period. Truist Financial Corp lifted its position in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares during the period. GAMMA Investing LLC lifted its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Confluent by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock valued at $472,000 after purchasing an additional 1,137 shares during the period. Institutional investors own 78.09% of the company’s stock.

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.