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Wells Fargo Remains a Buy on Confluent (CFLT)

Wells Fargo analyst Michael Turrin maintained a Buy rating on Confluent (CFLTResearch Report) on February 10 and set a price target of $75.00. The company’s shares closed last Friday at $57.18.

According to TipRanks.com, Turrin has 0 stars on 0-5 stars ranking scale with an average return of -7.9% and a 27.3% success rate. Turrin covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zoom Video Communications, and ZoomInfo Technologies.

Currently, the analyst consensus on Confluent is a Moderate Buy with an average price target of $80.45, implying a 19.9% upside from current levels. In a report issued on February 1, UBS also maintained a Buy rating on the stock with a $75.00 price target.

See today’s best-performing stocks on TipRanks >>

Confluent’s market cap is currently $15.12B and has a P/E ratio of -65.13.

Based on the recent corporate insider activity of 26 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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