Confluent (NASDAQ:CFLT) Given New $36.00 Price Target at Mizuho

Confluent (NASDAQ:CFLT) had its target price trimmed by Mizuho from $38.00 to $36.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada raised their price objective on Confluent from $35.00 to $37.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. UBS Group upped their price objective on shares of Confluent from $21.00 to $26.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Loop Capital assumed coverage on shares of Confluent in a research report on Tuesday, January 30th. They issued a hold rating and a $23.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Confluent in a research note on Wednesday, February 21st. They set a buy rating and a $40.00 target price on the stock. Finally, Barclays increased their price target on Confluent from $26.00 to $33.00 and gave the company an overweight rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $30.64.

Confluent Stock Down 3.1 %

CFLT stock opened at $27.66 on Monday. Confluent has a 52 week low of $14.69 and a 52 week high of $41.22. The business has a 50-day simple moving average of $31.55 and a 200 day simple moving average of $26.42. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34. The company has a market cap of $8.65 billion, a PE ratio of -18.82 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last released its 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). 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 the consensus estimate of $204.62 million. Sell-side analysts anticipate that Confluent will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Confluent news, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total value of $252,283.20. Following the transaction, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the transaction, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelangelo Volpi sold 637,268 shares of the firm’s stock in a transaction on 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 owns 302,306 shares of the company’s stock, valued at $9,592,169.38. The disclosure for this sale can be found here. Insiders sold 1,433,170 shares of company stock valued at $46,438,029 over the last 90 days. Company insiders own 22.08% of the company’s stock.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in CFLT. Advisors Asset Management Inc. bought a new position in shares of Confluent in the 1st quarter worth $30,000. Geneos Wealth Management Inc. acquired a new position in Confluent during the first quarter worth $43,000. UniSuper Management Pty Ltd acquired a new position in Confluent during the third quarter worth $36,000. Rakuten Securities Inc. acquired a new position in shares of Confluent during the fourth quarter valued at about $31,000. Finally, Quest Partners LLC bought a new stake in shares of Confluent during the fourth quarter worth about $31,000. Institutional investors and hedge funds 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.