Confluent (NASDAQ:CFLT) Given New $25.00 Price Target at Morgan Stanley

Confluent (NASDAQ:CFLT) had its target price decreased by equities researchers at Morgan Stanley from $32.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 18.20% from the stock’s previous close.

CFLT has been the subject of a number of other research reports. UBS Group raised Confluent from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $38.00 in a research note on Wednesday, February 26th. Loop Capital cut their price target on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a report on Monday, March 10th. Piper Sandler lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Stifel Nicolaus upped their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their target price on Confluent from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, March 31st. One 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.71.

Confluent Price Performance

Shares of Confluent stock opened at $21.15 on Wednesday. The company has a 50-day simple moving average of $26.94 and a two-hundred day simple moving average of $27.28. Confluent has a twelve month low of $17.79 and a twelve month high of $37.90. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of -19.58 and a beta of 1.03. 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 issued 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 net margin of 35.81% and a negative return on equity of 34.70%. Analysts forecast that Confluent will post -0.83 EPS for the current year.

Insider Activity at Confluent

In related news, CAO Kong Phan sold 6,346 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the transaction, the chief accounting officer now owns 179,593 shares in the company, valued at $6,504,858.46. The trade was a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the sale, the chief financial officer now owns 520,273 shares of the company’s stock, valued at $18,849,490.79. The trade was 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 1,200,746 shares of company stock worth $38,505,150 over the last quarter. Company insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFLT. Credit Industriel ET Commercial acquired a new stake in Confluent in the fourth quarter valued at approximately $28,000. Versant Capital Management Inc grew its position in Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock valued at $40,000 after purchasing an additional 1,647 shares during the period. Blue Trust Inc. increased its stake in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Confluent during the fourth quarter worth $59,000. Finally, GAMMA Investing LLC lifted its stake in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares in the last quarter. 78.09% of the stock is 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.