Confluent (NASDAQ:CFLT) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Confluent (NASDAQ:CFLTGet Rating) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat.com reports. The firm currently has a $28.00 target price on the stock, down from their previous target price of $32.00. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 20.69% from the company’s current price.

CFLT has been the subject of a number of other research reports. Cowen lowered their target price on Confluent from $39.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, January 19th. DA Davidson lowered their target price on Confluent from $44.00 to $33.00 in a research note on Thursday, November 3rd. FBN Securities assumed coverage on Confluent in a research note on Tuesday, January 17th. They issued an “outperform” rating and a $30.00 target price for the company. Morgan Stanley lowered their target price on Confluent from $35.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, December 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Confluent from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.50.

Confluent Price Performance

Shares of CFLT stock opened at $23.20 on Monday. The firm has a market cap of $6.64 billion, a P/E ratio of -13.89 and a beta of 1.01. Confluent has a fifty-two week low of $16.48 and a fifty-two week high of $81.11. The business’s 50 day moving average price is $21.65 and its 200-day moving average price is $24.44. 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 earnings results on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, meeting analysts’ consensus estimates of ($0.40). The company had revenue of $151.73 million during the quarter, compared to analysts’ expectations of $144.39 million. Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. On average, equities research analysts anticipate that Confluent will post -1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Confluent news, SVP Chad Verbowski sold 7,668 shares of Confluent stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $23.11, for a total value of $177,207.48. Following the completion of the sale, the senior vice president now owns 330,723 shares of the company’s stock, valued at approximately $7,643,008.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Steffan Tomlinson sold 11,300 shares of Confluent stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $25.00, for a total value of $282,500.00. Following the completion of the sale, the chief financial officer now owns 106,407 shares of the company’s stock, valued at $2,660,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Chad Verbowski sold 7,668 shares of Confluent stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $23.11, for a total value of $177,207.48. Following the completion of the sale, the senior vice president now directly owns 330,723 shares of the company’s stock, valued at approximately $7,643,008.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 829,987 shares of company stock valued at $18,552,363. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Confluent

Several large investors have recently modified their holdings of CFLT. Bank of New York Mellon Corp grew its holdings in shares of Confluent by 720.4% in the first quarter. Bank of New York Mellon Corp now owns 272,441 shares of the company’s stock worth $11,170,000 after acquiring an additional 239,232 shares during the period. Bank of Montreal Can grew its holdings in Confluent by 3,176.6% during the first quarter. Bank of Montreal Can now owns 149,968 shares of the company’s stock valued at $6,215,000 after purchasing an additional 145,391 shares during the period. Great West Life Assurance Co. Can bought a new stake in Confluent during the first quarter valued at about $5,322,000. Dimensional Fund Advisors LP bought a new stake in Confluent during the first quarter valued at about $507,000. Finally, Blair William & Co. IL grew its holdings in Confluent by 13.1% during the first quarter. Blair William & Co. IL now owns 19,335 shares of the company’s stock valued at $793,000 after purchasing an additional 2,235 shares during the period. Institutional investors own 40.66% of the company’s stock.

About Confluent

(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.

Further Reading

Analyst Recommendations for Confluent (NASDAQ:CFLT)

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