Confluent (NASDAQ:CFLT) Given New $22.00 Price Target at Loop Capital

Confluent (NASDAQ:CFLT) had its target price cut by Loop Capital from $30.00 to $22.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently issued reports on CFLT. 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. Barclays cut their price target on shares of Confluent from $37.00 to $29.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada boosted their price objective on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. William Blair reaffirmed an “outperform” rating on shares of Confluent in a report on Monday, March 17th. Finally, Guggenheim boosted their price target on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.79.

Confluent Trading Up 5.5 %

Shares of CFLT stock opened at $21.77 on Wednesday. The company has a market capitalization of $7.27 billion, a P/E ratio of -20.15 and a beta of 1.03. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $25.84 and its two-hundred day moving average is $27.32. Confluent has a twelve month low of $17.79 and a twelve month high of $37.90.

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 analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Equities analysts forecast that Confluent will post -0.83 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, CAO Kong Phan sold 3,175 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the sale, the chief accounting officer now owns 246,516 shares in the company, valued at approximately $6,621,419.76. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock worth $38,505,150 in the last 90 days. 13.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Confluent

Institutional investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its holdings in shares of Confluent by 112.3% during the 3rd quarter. Stifel Financial Corp now owns 41,339 shares of the company’s stock valued at $842,000 after acquiring an additional 21,864 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of Confluent by 11,796.1% during the third quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock worth $250,000 after purchasing an additional 12,150 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Confluent by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock worth $384,000 after buying an additional 3,298 shares during the period. Tidal Investments LLC grew its stake in shares of Confluent by 521.0% in the third quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock valued at $1,030,000 after buying an additional 42,406 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Confluent during the 3rd quarter valued at about $7,646,000. 78.09% of the stock is currently owned by hedge funds and other 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.