CFLT

Barclays Maintains Confluent Inc (CFLT) Overweight Recommendation

Fintel reports that on October 12, 2023, Barclays maintained coverage of Confluent Inc (NASDAQ:CFLT) with a Overweight recommendation.

Analyst Price Forecast Suggests 31.16% Upside

As of October 4, 2023, the average one-year price target for Confluent Inc is 40.52. The forecasts range from a low of 30.30 to a high of $47.25. The average price target represents an increase of 31.16% from its latest reported closing price of 30.89.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Confluent Inc is 782MM, an increase of 14.40%. The projected annual non-GAAP EPS is -0.52.

What is the Fund Sentiment?

There are 669 funds or institutions reporting positions in Confluent Inc. This is an increase of 83 owner(s) or 14.16% in the last quarter. Average portfolio weight of all funds dedicated to CFLT is 0.41%, an increase of 39.91%. Total shares owned by institutions increased in the last three months by 20.31% to 214,170K shares. CFLT / Confluent Inc Class A Put/Call Ratios The put/call ratio of CFLT is 0.60, indicating a bullish outlook.

What are Other Shareholders Doing?

CFLT / Confluent Inc Class A Shares Held by Institutions

Jpmorgan Chase holds 17,802K shares representing 5.89% ownership of the company. In it's prior filing, the firm reported owning 18,080K shares, representing a decrease of 1.56%. The firm increased its portfolio allocation in CFLT by 926.08% over the last quarter.

Altimeter Capital Management holds 16,306K shares representing 5.39% ownership of the company. In it's prior filing, the firm reported owning 14,492K shares, representing an increase of 11.13%. The firm increased its portfolio allocation in CFLT by 35.96% over the last quarter.

Price T Rowe Associates holds 12,578K shares representing 4.16% ownership of the company. In it's prior filing, the firm reported owning 12,477K shares, representing an increase of 0.81%. The firm increased its portfolio allocation in CFLT by 210.57% over the last quarter.

Capital Research Global Investors holds 6,806K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 7,219K shares, representing a decrease of 6.06%. The firm increased its portfolio allocation in CFLT by 29.87% over the last quarter.

1832 Asset Management holds 6,355K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 548K shares, representing an increase of 91.38%. The firm increased its portfolio allocation in CFLT by 1,507.86% over the last quarter.

Confluent Background Information
(This description is provided by the company.)

Confluent is pioneering a fundamentally new category of data infrastructure focused on data in motion. Confluent’s cloud-native offering is the foundational platform for data in motion – designed to be the intelligent connective tissue enabling real-time data, from multiple sources, to constantly stream across the organization. With Confluent, organizations can meet the new business imperative of delivering rich, digital front-end customer experiences and transitioning to sophisticated, real-time, software-driven backend operations.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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