Confluent (NASDAQ:CFLT) Receives Outperform Rating from William Blair

Confluent (NASDAQ:CFLT)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a note issued to investors on Friday,RTT News reports.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus raised their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their target price on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Bank of America lifted their price target on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Piper Sandler raised their price objective on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Evercore ISI lifted their target price on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.15.

Confluent Stock Performance

Confluent stock traded down $2.90 on Friday, hitting $25.76. The company’s stock had a trading volume of 4,075,180 shares, compared to its average volume of 4,205,459. The company has a fifty day moving average price of $29.97 and a 200-day moving average price of $26.56. The firm has a market cap of $8.60 billion, a P/E ratio of -23.80 and a beta of 0.92. Confluent has a one year low of $17.79 and a one year high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, equities analysts anticipate that Confluent will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Kong Phan sold 12,460 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total value of $389,998.00. Following the completion of the transaction, the chief accounting officer now directly owns 183,886 shares in the company, valued at approximately $5,755,631.80. The trade was a 6.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $31.68, for a total transaction of $2,018,934.72. Following the sale, the insider now owns 678,016 shares in the company, valued at $21,479,546.88. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,427,353 shares of company stock valued at $46,561,127 in the last 90 days. 13.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFLT. Quantbot Technologies LP boosted its stake in Confluent by 1,465.6% in the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after purchasing an additional 28,360 shares during the period. Pathway Capital Management LP bought a new position in shares of Confluent during the third quarter worth about $918,000. Charles Schwab Investment Management Inc. grew its holdings 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 worth $46,549,000 after buying an additional 64,926 shares in the last quarter. 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 valued at $1,398,000 after buying an additional 41,431 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Confluent in the 3rd quarter valued at approximately $868,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.