Confluent’s (CFLT) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Confluent (NASDAQ:CFLT) in a report released on Tuesday, Benzinga reports. They currently have a $40.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company cut their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus dropped their target price on Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. Mizuho dropped their target price on Confluent from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group dropped their target price on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.28.

Confluent Stock Performance

Shares of CFLT stock opened at $26.22 on Tuesday. The stock has a fifty day moving average price of $21.04 and a 200 day moving average price of $24.67. The stock has a market cap of $8.46 billion, a PE ratio of -23.62 and a beta of 0.88. Confluent has a 1 year low of $14.69 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Sell-side analysts forecast that Confluent will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at $9,045,235.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the sale, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 524,453 shares of company stock worth $10,833,388 over the last quarter. Corporate insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

A number of institutional investors have recently bought and sold shares of CFLT. Hollencrest Capital Management acquired a new stake in Confluent during the first quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Confluent in the second quarter worth about $68,000. UniSuper Management Pty Ltd lifted its position in shares of Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after buying an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares during the last quarter. 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.