Confluent Inc (NASDAQ:CFLT) shares traded 1.35% higher at $26.98 on Wall Street last session.
In accordance with the data, 26 analysts cover Confluent Inc (NASDAQ:CFLT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $30.00, we find $40.00. Given the previous closing price of $26.62, this indicates a potential upside of 50.26 percent. CFLT stock price is now -13.21% away from the 50-day moving average and -5.62% away from the 200-day moving average. The market capitalization of the company currently stands at $8.16B.
It has been rated a hold by 10 analysts and a buy by 15. Brokers who have rated the stock have averaged $38.45 as their price target over the next twelve months.
With the price target of $35, CapitalOne recently initiated with Equal Weight rating for Confluent Inc (NASDAQ: CFLT).
In other news, Verbowski Chad, Chief Technology Officer sold 8,519 shares of the company’s stock on Sep 21. The stock was sold for $253,866 at an average price of $29.80. Upon completion of the transaction, the Chief Technology Officer now directly owns 426,803 shares in the company, valued at $11.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 21, Chief Financial Officer Sivaram Rohan sold 860 shares of the business’s stock. A total of $25,628 was realized by selling the stock at an average price of $29.80. This leaves the insider owning 332,648 shares of the company worth $8.97 million. Insiders disposed of 42,412,124 shares of company stock worth roughly $1.14 billion over the past 1 year. A total of 34.15% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CFLT stock. A new stake in Confluent Inc shares was purchased by WHALE ROCK CAPITAL MANAGEMENT LLC during the first quarter worth $80,683,000. FRED ALGER MANAGEMENT, LLC invested $51,939,000 in shares of CFLT during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Confluent Inc valued at approximately $31,203,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in CFLT for approximately $16,191,000. CLEARBRIDGE INVESTMENTS, LLC purchased a new stake in CFLT valued at around $11,223,000 in the second quarter. In total, there are 361 active investors with 59.55% ownership of the company’s stock.
Confluent Inc (NASDAQ: CFLT) opened at $26.57 on Thursday. During the past 12 months, Confluent Inc has had a low of $16.60 and a high of $41.22. As of last week, the company has a debt-to-equity ratio of 1.46, a current ratio of 4.96, and a quick ratio of 4.96. The fifty day moving average price for CFLT is $30.97 and a two-hundred day moving average price translates $28.62 for the stock.
The latest earnings results from Confluent Inc (NASDAQ: CFLT) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0, beating analysts’ expectations of -$0.06 by 0.06. This compares to -$0.42 EPS in the same period last year. The net profit margin was -69.87% and return on equity was -61.35% for CFLT. The company reported revenue of $189.28 million for the quarter, compared to $139.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.78 percent. For the current quarter, analysts expect CFLT to generate $195.42M in revenue.
Confluent Inc(CFLT) Company Profile
Confluent, Inc. operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data. It also provides Kafka Connect, an open-source component that works as a centralized data hub for simple data integration between databases, key-value stores, search indexes, and file systems; ksqlDB, a database for stream processing applications; and stream governance, a solution that is designed for the intricacies of streaming data, which allows teams to expand usage of Apache Kafka without bypassing requirements for risk management and regulatory compliance. In addition, the company offers training and professional services. It serves automotive, communication, financial services, gaming, government, insurance, manufacturing, retail and ecommerce, and technology industries. The company was formerly known as Infinitem, Inc. and changed its name to Confluent, Inc. in September 2014. Confluent, Inc. was incorporated in 2014 and is headquartered in Mountain View, California.
