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

William Blair reaffirmed their outperform rating on shares of Confluent (NASDAQ:CFLT) in a research report report published on Friday,RTT News reports.

CFLT has been the subject of several other research reports. Scotiabank raised their price objective on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective 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. Evercore ISI raised their target price on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Mizuho raised their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group raised their target price on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.15.

Confluent Trading Down 7.1 %

Shares of CFLT stock opened at $26.61 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a market cap of $8.89 billion, a PE ratio of -24.64 and a beta of 0.90. The company has a 50-day moving average of $29.93 and a two-hundred day moving average of $26.66. Confluent has a 1-year low of $17.79 and a 1-year high of $37.90.

Confluent (NASDAQ:CFLT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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, analysts predict that Confluent will post -0.83 EPS for the current year.

Insider Activity at Confluent

In other news, Director Lara Caimi sold 34,500 shares of Confluent stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.32, for a total transaction of $1,080,540.00. Following the completion of the transaction, the director now owns 7,160 shares of the company’s stock, valued at $224,251.20. The trade was a 82.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $31.68, for a total value of $2,018,934.72. Following the transaction, the insider now directly owns 678,016 shares of the company’s stock, valued at $21,479,546.88. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,079,707 shares of company stock worth $35,196,579 in the last three months. Insiders own 13.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CFLT. Champlain Investment Partners LLC raised its stake in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after purchasing an additional 4,486,841 shares during the last quarter. Norges Bank acquired a new position in Confluent in the 4th quarter valued at about $81,092,000. Pictet Asset Management Holding SA raised its stake in Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after purchasing an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Confluent in the 4th quarter valued at about $64,658,000. Finally, Fiera Capital Corp acquired a new position in Confluent in the 3rd quarter valued at about $21,127,000. 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.