Confluent Inc. [NASDAQ: CFLT] stock went on a downward path that fall over -12.98% on Wednesday, amounting to a one-week price decrease of less than -15.41%. The company report on November 2, 2022 that Rey Perez Appointed Chief Customer Officer of Confluent.
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Industry veteran to help customers succeed with the power of data streaming.
Confluent, Inc. (NASDAQ:CFLT), the data streaming pioneer, today announced the appointment of Rey Perez as Chief Customer Officer (CCO). As CCO, Rey will lead the customer success, sales engineering services, training and support teams as data streaming becomes a core part of how modern businesses operate. Rey joins Confluent from New Relic, where he served as CCO, leading the solutions engineering, solutions architecture, enablement and expert services teams.
Over the last 12 months, CFLT stock dropped by -70.51%. The one-year Confluent Inc. stock forecast points to a potential upside of 41.47. The average equity rating for CFLT stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.39 billion, with 278.27 million shares outstanding and 138.84 million shares in the current float. Compared to the average trading volume of 2.22M shares, CFLT stock reached a trading volume of 4935761 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Confluent Inc. [CFLT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CFLT shares is $38.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CFLT stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Truist have made an estimate for Confluent Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2022. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on June 09, 2022, representing the official price target for Confluent Inc. stock. Previously, the target price had yet another raise to $76, while DA Davidson analysts kept a Buy rating on CFLT stock. On January 11, 2022, analysts decreased their price target for CFLT shares from 90 to 80.
The Average True Range (ATR) for Confluent Inc. is set at 2.03, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 13.09. The Price to Book ratio for the last quarter was 7.83, with the Price to Cash per share for the same quarter was set at 6.87.
CFLT Stock Performance Analysis:
Confluent Inc. [CFLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.41. With this latest performance, CFLT shares dropped by -16.76% in over the last four-week period, additionally sinking by -33.03% over the last 6 months – not to mention a drop of -70.51% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CFLT stock in for the last two-week period is set at 40.31, with the RSI for the last a single of trading hit 34.93, and the three-weeks RSI is set at 42.94 for Confluent Inc. [CFLT]. The present Moving Average for the last 50 days of trading for this stock 25.43, while it was recorded at 25.80 for the last single week of trading, and 32.35 for the last 200 days.
Insight into Confluent Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Confluent Inc. [CFLT] shares currently have an operating margin of -87.56 and a Gross Margin at +64.60. Confluent Inc.’s Net Margin is presently recorded at -88.38.
Return on Equity for this stock declined to -61.29, with Return on Assets sitting at -23.90.
Confluent Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.80 and a Current Ratio set at 5.80.
CFLT Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CFLT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Confluent Inc. go to 45.60%.
Confluent Inc. [CFLT] Insider Position Details
There are presently around $2,567 million, or 83.30% of CFLT stock, in the hands of institutional investors. The top three institutional holders of CFLT stocks are: ALTIMETER CAPITAL MANAGEMENT, LP with ownership of 14,456,310, which is approximately 172.416% of the company’s market cap and around 0.50% of the total institutional ownership; JPMORGAN CHASE & CO, holding 13,165,014 shares of the stock with an approximate value of $294.9 million in CFLT stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $222.29 million in CFLT stock with ownership of nearly -7.158% of the company’s market capitalization.
Positions in Confluent Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 126 institutional holders increased their position in Confluent Inc. [NASDAQ:CFLT] by around 43,886,935 shares. Additionally, 113 investors decreased positions by around 19,719,169 shares, while 36 investors held positions by with 50,993,513 shares. The mentioned changes placed institutional holdings at 114,599,617 shares, according to the latest SEC report filing. CFLT stock had 63 new institutional investments in for a total of 5,573,070 shares, while 70 institutional investors sold positions of 10,470,042 shares during the same period.