Confluent (NASDAQ:CFLT) Given New $40.00 Price Target at Truist Financial

Confluent (NASDAQ:CFLT) had its price objective increased by Truist Financial from $35.00 to $40.00 in a report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also commented on the company. Scotiabank lifted their price objective on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price target on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America increased their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday. Mizuho boosted their target price on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup upped their target price on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Confluent Trading Up 25.1 %

Shares of CFLT stock opened at $37.65 on Wednesday. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a market cap of $12.35 billion, a PE ratio of -33.92 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The business’s 50 day moving average is $29.58 and its two-hundred day moving average is $25.37.

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

Insider Transactions at Confluent

In other Confluent news, CMO Stephanie Buscemi sold 5,271 shares of Confluent stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $148,800.33. Following the completion of the transaction, the chief marketing officer now owns 144,373 shares in the company, valued at approximately $4,075,649.79. The trade was a 3.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 3,947 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the sale, the chief accounting officer now owns 179,939 shares in the company, valued at $5,171,446.86. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,508,636 shares of company stock valued at $47,198,798. 13.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CFLT. Quantbot Technologies LP grew its holdings in Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after acquiring an additional 28,360 shares during the last quarter. Pathway Capital Management LP acquired a new position in shares of Confluent during the third quarter worth approximately $918,000. Charles Schwab Investment Management Inc. grew its stake in shares of Confluent by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after purchasing an additional 64,926 shares during the last quarter. Creative Planning increased its holdings in shares of Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after purchasing an additional 49,699 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Confluent by 152.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock worth $1,398,000 after purchasing an additional 41,431 shares during the last quarter. 78.09% of the stock is 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.