Confluent, Inc. (NASDAQ:CFLT – Get Rating) CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $22.47, for a total value of $5,224,275.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Confluent Trading Down 2.7 %
Shares of Confluent stock opened at $20.88 on Friday. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -12.50 and a beta of 1.26. Confluent, Inc. has a fifty-two week low of $16.48 and a fifty-two week high of $85.50. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74. The stock has a 50 day moving average of $24.16 and a 200 day moving average of $24.59.
Confluent (NASDAQ:CFLT – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, hitting the consensus estimate of ($0.40). Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. The business had revenue of $151.73 million during the quarter, compared to analyst estimates of $144.39 million. As a group, research analysts predict that Confluent, Inc. will post -1.62 earnings per share for the current year.
Institutional Trading of Confluent
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Confluent from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Barclays lowered their target price on Confluent from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 3rd. Truist Financial started coverage on Confluent in a report on Friday, September 30th. They issued a “buy” rating and a $35.00 price target for the company. Wells Fargo & Company upped their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Finally, Citigroup reduced their price target on Confluent from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, November 1st. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $35.36.
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.
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