Confluent, Inc. (NASDAQ:CFLT) Given Average Recommendation of “Hold” by Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT) have earned a consensus rating of “Hold” from the thirty-three research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $28.7097.

Several brokerages recently issued reports on CFLT. Citizens Jmp cut shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Friday, January 9th. Piper Sandler lowered shares of Confluent from an “overweight” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Monday, December 8th. UBS Group cut Confluent from a “buy” rating to a “neutral” rating and increased their price target for the company from $29.00 to $31.00 in a report on Tuesday, December 9th. Citigroup raised their price target on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 9th. Finally, Evercore set a $31.00 price objective on Confluent in a report on Monday, December 8th.

Insiders Place Their Bets

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $30.59, for a total transaction of $764,750.00. Following the completion of the sale, the director directly owned 155,512 shares in the company, valued at $4,757,112.08. The trade was a 13.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Neha Narkhede sold 80,000 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.59, for a total transaction of $2,447,200.00. Following the sale, the director directly owned 28,549 shares of the company’s stock, valued at $873,313.91. The trade was a 73.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 534,745 shares of company stock valued at $16,388,405. 9.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its holdings in Confluent by 655.7% in the 2nd quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock worth $6,013,000 after purchasing an additional 211,360 shares during the period. Maxi Investments CY Ltd lifted its position in Confluent by 81.7% during the third quarter. Maxi Investments CY Ltd now owns 140,366 shares of the company’s stock valued at $2,779,000 after purchasing an additional 63,100 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in Confluent during the second quarter valued at $305,000. Light Street Capital Management LLC bought a new stake in Confluent during the third quarter valued at about $25,119,000. Finally, First Trust Advisors LP grew its holdings in Confluent by 15.7% during the second quarter. First Trust Advisors LP now owns 4,555,913 shares of the company’s stock valued at $113,579,000 after purchasing an additional 616,822 shares during the period. 78.09% of the stock is currently owned by institutional investors.

Confluent Price Performance

CFLT opened at $30.99 on Friday. The company’s 50-day simple moving average is $30.63 and its two-hundred day simple moving average is $26.29. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a market capitalization of $11.08 billion, a P/E ratio of -36.03 and a beta of 0.95. Confluent has a 52-week low of $15.64 and a 52-week high of $31.00.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The firm had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. During the same period in the previous year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, analysts predict that Confluent will post -0.83 EPS for the current year.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.