Loop Capital Has Lowered Expectations for Confluent (NASDAQ:CFLT) Stock Price

Confluent (NASDAQ:CFLT) had its price objective dropped by equities researchers at Loop Capital from $34.00 to $30.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target points to a potential upside of 17.65% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Wells Fargo & Company upped their price objective on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial upped their price objective on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Mizuho upped their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley upped their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price objective on Confluent from $35.00 to $40.00 and gave the company an “overweight” 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Confluent Stock Up 4.5 %

Shares of NASDAQ CFLT opened at $25.50 on Monday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a market cap of $8.52 billion, a price-to-earnings ratio of -23.61 and a beta of 0.89. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a 50-day moving average price of $29.80 and a two-hundred day moving average price of $26.71.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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 net margin of 35.81% and a negative return on equity of 34.70%. As a group, analysts forecast that Confluent will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the chief accounting officer now directly owns 179,939 shares in the company, valued at $5,171,446.86. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,248,478 shares of company stock worth $40,003,844 in the last ninety days. Corporate insiders own 13.82% of the company’s stock.

Hedge Funds Weigh In On Confluent

Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its stake in Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock valued at $617,000 after acquiring an additional 28,360 shares in the last quarter. Pathway Capital Management LP bought a new position in Confluent during the 3rd quarter valued at $918,000. Charles Schwab Investment Management Inc. lifted its stake in Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after acquiring an additional 64,926 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Confluent by 152.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock valued at $1,398,000 after acquiring an additional 41,431 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Confluent during the 3rd quarter valued at $868,000. 78.09% of the stock is currently 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.