Confluent (CFLT) Receives a Hold from Morgan Stanley

Morgan Stanley analyst Sanjit Singh maintained a Hold rating on Confluent (CFLTResearch Report) today and set a price target of $42.00. The company’s shares closed last Thursday at $32.05.

According to, Singh is a 4-star analyst with an average return of 7.7% and a 50.5% success rate. Singh covers the Technology sector, focusing on stocks such as SolarWinds, Sumo Logic, and New Relic.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Confluent with a $38.42 average price target, representing a 23.9% upside. In a report released today, Deutsche Bank also maintained a Hold rating on the stock with a $32.00 price target.

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Confluent’s market cap is currently $8.08B and has a P/E ratio of -18.89.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CFLT in relation to earlier this year.

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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.

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