Barclays lifts Confluent Inc. [CFLT] price estimate. Who else is bullish?

Confluent Inc. [NASDAQ: CFLT] traded at a low on 01/12/23, posting a -3.12 loss after which it closed the day’ session at $20.19. The company report on January 9, 2023 that Confluent to Announce Fourth Quarter and Fiscal Year 2022 Financial Results on January 30, 2023.

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Confluent, Inc. (NASDAQ: CFLT), the data streaming pioneer, today announced it will release financial results for its fourth quarter and fiscal year 2022, which ended December 31, 2022, after the U.S. market close on Monday, January 30, 2023. Confluent will host a live video webcast during its sales kickoff conference in Las Vegas to discuss the results.

Video Webcast InformationDate: Monday, January 30, 2023Time: 1:30 p.m. PT / 4:30 p.m. ETWebcast: https://investors.confluent.io.

The results of the trading session contributed to over 2923906 shares changing hands. Over the past one week, the price volatility of Confluent Inc. stands at 8.11% while the volatility over the past one month is 6.72%.

The market cap for CFLT stock reached $5.70 billion, with 282.27 million shares outstanding and 151.39 million shares in the current float. Compared to the average trading volume of 2.78M shares, CFLT reached a trading volume of 2923906 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $33.80 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.

Barclays have made an estimate for Confluent Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 10, 2023. The new note on the price target was released on January 06, 2023, representing the official price target for Confluent Inc. stock. Previously, the target price had yet another raise to $35, while Truist analysts kept a Buy rating on CFLT stock.

The Average True Range (ATR) for Confluent Inc. is set at 1.51, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 10.61. The Price to Book ratio for the last quarter was 7.26, with the Price to Cash per share for the same quarter was set at 6.87.

How has CFLT stock performed recently?

Confluent Inc. [CFLT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.64. With this latest performance, CFLT shares dropped by -13.94% in over the last four-week period, additionally sinking by -14.01% over the last 6 months – not to mention a drop of -71.95% 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 45.26, with the RSI for the last a single of trading hit 45.54, and the three-weeks RSI is set at 45.53 for Confluent Inc. [CFLT]. The present Moving Average for the last 50 days of trading for this stock 21.75, while it was recorded at 19.83 for the last single week of trading, and 25.69 for the last 200 days.

Confluent Inc. [CFLT]: Deeper insight into the 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 5.70 and a Current Ratio set at 5.70.

Earnings analysis for Confluent Inc. [CFLT]

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%.

Insider trade positions for Confluent Inc. [CFLT]

There are presently around $2,363 million, or 78.40% of CFLT stock, in the hands of institutional investors. The top three institutional holders of CFLT stocks are: JPMORGAN CHASE & CO with ownership of 14,655,975, which is approximately 11.325% of the company’s market cap and around 0.40% of the total institutional ownership; ALTIMETER CAPITAL MANAGEMENT, LP, holding 13,716,310 shares of the stock with an approximate value of $276.93 million in CFLT stocks shares; and VANGUARD GROUP INC, currently with $219.61 million in CFLT stock with ownership of nearly 15.634% of the company’s market capitalization.

Positions in Confluent Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 145 institutional holders increased their position in Confluent Inc. [NASDAQ:CFLT] by around 12,167,647 shares. Additionally, 74 investors decreased positions by around 9,861,399 shares, while 39 investors held positions by with 95,011,140 shares. The mentioned changes placed institutional holdings at 117,040,186 shares, according to the latest SEC report filing. CFLT stock had 61 new institutional investments in for a total of 3,152,149 shares, while 19 institutional investors sold positions of 491,845 shares during the same period.

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