In a report released on April 15, Matthew Hedberg from RBC Capital maintained a Buy rating on Confluent (CFLT – Research Report), with a price target of $37.00. The company’s shares closed yesterday at $28.55.
Hedberg covers the Technology sector, focusing on stocks such as UiPath, Autodesk, and Teradata. According to TipRanks, Hedberg has an average return of 9.8% and a 53.23% success rate on recommended stocks.
Confluent has an analyst consensus of Moderate Buy, with a price target consensus of $33.27, which is a 16.53% upside from current levels. In a report released on April 15, Mizuho Securities also maintained a Buy rating on the stock with a $36.00 price target.
CFLT market cap is currently $8.88B and has a P/E ratio of -19.30.
Based on the recent corporate insider activity of 110 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.
