Confluent (NASDAQ:CFLT) Price Target Raised to $27.00 at JPMorgan Chase & Co.

Confluent (NASDAQ:CFLTFree Report) had its price objective lifted by JPMorgan Chase & Co. from $23.00 to $27.00 in a report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

CFLT has been the topic of several other research reports. Wolfe Research raised shares of Confluent from a peer perform rating to an outperform rating and set a $21.00 price target on the stock in a research report on Friday, November 3rd. Scotiabank raised their target price on shares of Confluent from $22.00 to $28.00 and gave the stock a sector perform rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of Confluent from $30.00 to $36.00 and gave the stock an overweight rating in a report on Thursday. Truist Financial cut their target price on shares of Confluent from $42.00 to $27.00 and set a buy rating on the stock in a report on Friday, November 3rd. Finally, JMP Securities raised their target price on shares of Confluent from $25.00 to $38.00 and gave the stock a market outperform rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Confluent currently has an average rating of Moderate Buy and a consensus price target of $30.42.

Get Our Latest Stock Analysis on CFLT

Confluent Stock Performance

Shares of CFLT stock opened at $32.57 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 4.98 and a current ratio of 4.98. Confluent has a one year low of $14.69 and a one year high of $41.22. The company’s 50-day simple moving average is $23.35 and its 200-day simple moving average is $26.89. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of -21.15 and a beta of 0.69.

Insider Activity at Confluent

In other Confluent news, insider Erica Schultz sold 50,000 shares of Confluent stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.28, for a total value of $964,000.00. Following the transaction, the insider now owns 479,537 shares in the company, valued at $9,245,473.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Confluent news, CTO Chad Verbowski sold 8,502 shares of Confluent stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $23.95, for a total value of $203,622.90. Following the transaction, the chief technology officer now owns 409,442 shares in the company, valued at $9,806,135.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Erica Schultz sold 50,000 shares of Confluent stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.28, for a total transaction of $964,000.00. Following the completion of the transaction, the insider now owns 479,537 shares in the company, valued at approximately $9,245,473.36. The disclosure for this sale can be found here. Insiders have sold 439,216 shares of company stock worth $10,241,051 over the last quarter. 22.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFLT. Vanguard Group Inc. boosted its stake in Confluent by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock worth $545,546,000 after purchasing an additional 2,125,843 shares during the period. Altimeter Capital Management LP boosted its stake in Confluent by 11.5% in the 1st quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock worth $348,818,000 after purchasing an additional 1,496,443 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Confluent by 18.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock worth $300,320,000 after purchasing an additional 1,938,668 shares during the period. BlackRock Inc. boosted its stake in Confluent by 1.0% in the 3rd quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock worth $194,656,000 after purchasing an additional 78,339 shares during the period. Finally, Durable Capital Partners LP boosted its stake in Confluent by 6.8% in the 1st quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock worth $300,496,000 after purchasing an additional 465,214 shares during the period. Institutional investors and hedge funds own 59.30% of the company’s stock.

Confluent Company Profile

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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.

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Analyst Recommendations for Confluent (NASDAQ:CFLT)

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