Stifel Nicolaus Issues Positive Forecast for Confluent (NASDAQ:CFLT) Stock Price

Confluent (NASDAQ:CFLT) had its price objective raised by Stifel Nicolaus from $37.00 to $40.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Guggenheim lifted their target price on shares of Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Piper Sandler upped their price objective on Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Confluent Price Performance

Shares of CFLT opened at $34.85 on Wednesday. Confluent has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a market capitalization of $11.43 billion, a P/E ratio of -31.40 and a beta of 0.92. The firm has a 50 day moving average of $29.67 and a 200 day moving average of $25.52. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, equities research analysts anticipate that Confluent will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, Director Lara Caimi sold 34,500 shares of Confluent stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $31.32, for a total value of $1,080,540.00. Following the completion of the transaction, the director now owns 7,160 shares in the company, valued at approximately $224,251.20. The trade was a 82.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kong Phan sold 2,096 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the sale, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at $5,382,896.40. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,508,636 shares of company stock valued at $47,198,798 in the last three months. 13.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Confluent

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in Confluent by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after purchasing an additional 458 shares in the last quarter. EP Wealth Advisors LLC grew its position in Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after purchasing an additional 503 shares during the period. Truist Financial Corp raised its position in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after acquiring an additional 514 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in shares of Confluent by 0.5% during the 4th quarter. Sit Investment Associates Inc. now owns 124,623 shares of the company’s stock valued at $3,484,000 after purchasing an additional 680 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Confluent by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 108,859 shares of the company’s stock worth $3,044,000 after acquiring an additional 680 shares during the period. 78.09% of the stock is currently owned by 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.