J.P. Morgan analyst Pinjalim Bora maintained a Hold rating on Confluent (CFLT – Research Report) yesterday and set a price target of $29.00. The company’s shares closed yesterday at $31.38.
Bora covers the Technology sector, focusing on stocks such as Pegasystems, Box, and Pure Storage. According to TipRanks, Bora has an average return of 11.9% and a 54.81% success rate on recommended stocks.
Currently, the analyst consensus on Confluent is a Strong Buy with an average price target of $35.38, which is a 12.75% upside from current levels. In a report released today, Citi also maintained a Hold rating on the stock with a $32.00 price target.
CFLT market cap is currently $9.96B and has a P/E ratio of -25.05.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CFLT in relation to earlier this year. Most recently, in February 2024, Michelangelo Volpi, a Director at CFLT sold 621,175.00 shares for a total of $19,705,975.88.
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Confluent (CFLT) Company Description:
Confluent Inc is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system. The company generates revenue from the sale of subscriptions and services.
Read More on CFLT:
- Confluent price target raised to $37 from $34 at TD Cowen
- Confluent price target raised to $34 from $33 at Barclays
- Confluent price target raised to $37 from $35 at Guggenheim
- Confluent price target raised to $40 from $38 at JMP Securities
- Confluent upgraded to Buy at Canaccord as transition progresses
