Confluent (NASDAQ:CFLT) Given New $26.00 Price Target at UBS Group

Confluent (NASDAQ:CFLT) had its price target increased by research analysts at UBS Group from $23.00 to $26.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential downside of 0.84% from the stock’s previous close.

CFLT has been the subject of a number of other reports. Canaccord Genuity Group dropped their target price on shares of Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Sanford C. Bernstein dropped their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI dropped their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Robert W. Baird boosted their price objective on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.28.

Confluent Stock Up 0.2 %

CFLT opened at $26.22 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. Confluent has a 12 month low of $14.69 and a 12 month high of $35.07. The stock has a market capitalization of $8.46 billion, a P/E ratio of -23.62 and a beta of 0.88. The business has a 50 day simple moving average of $21.04 and a 200-day simple moving average of $24.67.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.97%. On average, equities analysts anticipate that Confluent will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,561,071.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total value of $4,912,725.00. Following the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,561,071.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 position. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock valued at $10,833,388 in the last three months. 13.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in Confluent during the 1st quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Confluent during the second quarter worth approximately $68,000. UniSuper Management Pty Ltd grew its position in Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Confluent by 25.5% in the 1st 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 in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

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.