Confluent (NASDAQ:CFLT) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Confluent (NASDAQ:CFLT) from a neutral rating to a buy rating in a research note released on Wednesday, Marketbeat reports. UBS Group currently has $38.00 price target on the stock, up from their prior price target of $34.00.

CFLT has been the topic of several other research reports. Royal Bank of Canada upped their price target on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Cowen upped their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial lifted their price target on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.15.

Confluent Trading Up 1.1 %

Shares of Confluent stock opened at $30.79 on Wednesday. The business has a fifty day simple moving average of $29.86 and a 200-day simple moving average of $26.21. Confluent has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, equities analysts forecast that Confluent will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Kong Phan sold 3,040 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $30.75, for a total transaction of $93,480.00. Following the transaction, the chief accounting officer now directly owns 174,375 shares in the company, valued at $5,362,031.25. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erica Schultz sold 113,729 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $30.29, for a total value of $3,444,851.41. Following the completion of the sale, the insider now directly owns 502,424 shares of the company’s stock, valued at $15,218,422.96. This represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,394,730 shares of company stock worth $45,827,255 over the last ninety days. 13.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently modified their holdings of the company. Credit Industriel ET Commercial bought a new stake in shares of Confluent during the 4th quarter worth $28,000. Blue Trust Inc. lifted its position in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Confluent during the 4th quarter worth $59,000. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 1,136 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the third quarter valued at about $68,000. 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.