Confluent (NASDAQ:CFLT) Stock Price Expected to Rise, Mizuho Analyst Says

Confluent (NASDAQ:CFLT) had its target price raised by Mizuho from $29.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on CFLT. TD Cowen lowered their price objective on shares of Confluent from $31.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Confluent in a report on Tuesday. Royal Bank of Canada lowered their price target on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. One 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.28.

Confluent Price Performance

NASDAQ:CFLT traded up $0.33 during midday trading on Thursday, hitting $26.50. 1,408,225 shares of the stock were exchanged, compared to its average volume of 4,331,277. Confluent has a one year low of $14.69 and a one year high of $35.07. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of -23.40 and a beta of 0.88. The business has a 50-day moving average price of $20.94 and a two-hundred day moving average price of $24.69. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.97%. The firm had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Sell-side analysts predict that Confluent will post -0.95 EPS for the current year.

Insider Activity

In other news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,561,071.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the transaction, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at $3,505,070.64. This trade represents 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 through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,561,071.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 524,453 shares of company stock valued at $10,833,388. 13.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Diversified Trust Co lifted its position in Confluent by 110.3% in the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares during the period. Sycomore Asset Management lifted its holdings in shares of Confluent by 308.3% during the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after acquiring an additional 251,507 shares during the period. Sei Investments Co. lifted its holdings in shares of Confluent by 29.1% during the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after acquiring an additional 68,880 shares during the period. Highland Capital Management LLC bought a new position in shares of Confluent during the first quarter valued at $1,181,000. Finally, Creative Planning lifted its holdings in shares of Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the period. 78.09% of the stock is owned by institutional investors.

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.