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

Confluent (NASDAQ:CFLT) had its price objective decreased by Mizuho from $38.00 to $36.00 in a report released on Monday, Benzinga reports. Mizuho currently has a buy rating on the stock.

CFLT has been the subject of several other research reports. The Goldman Sachs Group boosted their price objective on Confluent from $24.00 to $27.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Scotiabank raised their price objective on shares of Confluent from $22.00 to $28.00 and gave the stock a sector perform rating in a research note on Thursday, February 8th. DA Davidson reaffirmed a buy rating and set a $37.00 target price on shares of Confluent in a research report on Monday, April 1st. UBS Group upped their target price on shares of Confluent from $21.00 to $26.00 and gave the company a neutral rating in a research note on Monday, February 5th. Finally, Needham & Company LLC increased their price target on shares of Confluent from $35.00 to $38.00 and gave the company a buy rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $30.64.

Confluent Stock Down 3.1 %

Shares of Confluent stock opened at $27.66 on Monday. Confluent has a 12-month low of $14.69 and a 12-month high of $41.22. The stock has a market capitalization of $8.65 billion, a P/E ratio of -18.82 and a beta of 0.91. 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 stock has a 50 day moving average price of $31.55 and a two-hundred day moving average price of $26.42.

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

Insider Buying and Selling at Confluent

In other news, CTO Chad Verbowski sold 8,086 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Confluent news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.91, for a total value of $2,161,050.39. Following the transaction, the insider now owns 706,715 shares of the company’s stock, valued at $23,964,705.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Chad Verbowski sold 8,086 shares of Confluent stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the sale, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,170 shares of company stock worth $46,438,029 over the last ninety days. Corporate insiders own 22.08% of the company’s stock.

Hedge Funds Weigh In On Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of CFLT. Advisors Asset Management Inc. bought a new position in shares of Confluent in the 1st quarter worth $30,000. Geneos Wealth Management Inc. bought a new position in Confluent during the first quarter worth about $43,000. UniSuper Management Pty Ltd acquired a new position in shares of Confluent during the 3rd quarter worth about $36,000. Rakuten Securities Inc. bought a new stake in shares of Confluent in the 4th quarter valued at about $31,000. Finally, Quest Partners LLC bought a new stake in shares of Confluent in the 4th quarter valued at about $31,000. 78.09% of the stock is owned by 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.