Confluent (NASDAQ:CFLT) Price Target Lowered to $27.00 at UBS Group

Confluent (NASDAQ:CFLTGet Rating) had its price target decreased by UBS Group from $35.00 to $27.00 in a research report released on Tuesday, The Fly reports. UBS Group currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Barclays upgraded shares of Confluent from an equal weight rating to an overweight rating and dropped their target price for the stock from $27.00 to $24.00 in a research report on Tuesday, January 10th. Cowen dropped their target price on shares of Confluent from $39.00 to $35.00 and set an outperform rating for the company in a research report on Thursday, January 19th. DA Davidson dropped their target price on shares of Confluent from $44.00 to $33.00 in a research report on Thursday, November 3rd. Piper Sandler dropped their target price on shares of Confluent from $32.00 to $30.00 and set an overweight rating for the company in a research report on Thursday, January 5th. Finally, Scotiabank cut shares of Confluent from a sector outperform rating to a sector perform rating and set a $21.00 price objective for the company. in a research report on Friday, January 6th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Confluent currently has a consensus rating of Moderate Buy and a consensus price target of $32.50.

Confluent Price Performance

NASDAQ:CFLT opened at $23.20 on Tuesday. The company has a 50-day moving average of $21.65 and a 200-day moving average of $24.44. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of -13.89 and a beta of 1.01. Confluent has a 52 week low of $16.48 and a 52 week high of $81.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74.

Confluent (NASDAQ:CFLTGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, hitting analysts’ consensus estimates of ($0.40). The company had revenue of $151.73 million during the quarter, compared to the consensus estimate of $144.39 million. Confluent had a negative net margin of 85.83% and a negative return on equity of 55.60%. As a group, equities research analysts anticipate that Confluent will post -1.62 earnings per share for the current fiscal year.

Insider Transactions at Confluent

In related news, SVP Chad Verbowski sold 9,441 shares of Confluent stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total transaction of $189,858.51. Following the transaction, the senior vice president now owns 338,391 shares of the company’s stock, valued at approximately $6,805,043.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of Confluent stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $23.01, for a total transaction of $3,233,158.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Chad Verbowski sold 9,441 shares of Confluent stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $20.11, for a total transaction of $189,858.51. Following the transaction, the senior vice president now directly owns 338,391 shares in the company, valued at approximately $6,805,043.01. The disclosure for this sale can be found here. Insiders sold a total of 829,987 shares of company stock worth $18,552,363 in the last quarter. 27.94% 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. Stonegate Investment Group LLC bought a new position in Confluent in the fourth quarter valued at approximately $912,000. International Assets Investment Management LLC bought a new position in Confluent in the fourth quarter valued at approximately $66,000. Xponance Inc. lifted its stake in Confluent by 12.1% in the fourth quarter. Xponance Inc. now owns 16,461 shares of the company’s stock valued at $366,000 after buying an additional 1,781 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Confluent in the fourth quarter valued at approximately $22,235,000. Finally, UMB Bank n.a. lifted its stake in Confluent by 703.5% in the fourth quarter. UMB Bank n.a. now owns 1,856 shares of the company’s stock valued at $41,000 after buying an additional 1,625 shares in the last quarter. Institutional investors own 40.66% of the company’s stock.

Confluent Company Profile

(Get Rating)

Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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