Confluent Inc. [CFLT] Is Currently 1.99 below its 200 Period Moving Avg: What Does This Mean?

Confluent Inc. [NASDAQ: CFLT] stock went on an upward path that rose over 1.99% on Tuesday, amounting to a one-week price decrease of less than -10.95%. The company report on February 27, 2023 that Confluent to Present at Upcoming Investor Conferences.

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Confluent, Inc. (NASDAQ: CFLT), the data streaming pioneer, today announced that its management will present at the following upcoming investor conferences:.

Morgan Stanley Technology, Media & Telecom ConferenceDate: Monday, March 6, 2023Time: 10:25 a.m. PT / 1:25 p.m. ET.

Over the last 12 months, CFLT stock dropped by -27.28%. The one-year Confluent Inc. stock forecast points to a potential upside of 22.36. The average equity rating for CFLT stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.86 billion, with 286.80 million shares outstanding and 146.66 million shares in the current float. Compared to the average trading volume of 3.75M shares, CFLT stock reached a trading volume of 5343239 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 $29.11 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 2.30. 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.

MoffettNathanson have made an estimate for Confluent Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 13, 2023. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on January 27, 2023, representing the official price target for Confluent Inc. stock. Previously, the target price had yet another drop from $27 to $24, while UBS kept a Neutral rating on CFLT stock. On January 23, 2023, analysts decreased their price target for CFLT shares from 32 to 28.

The Average True Range (ATR) for Confluent Inc. is set at 1.58, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 11.72. The Price to Book ratio for the last quarter was 8.43, with the Price to Cash per share for the same quarter was set at 6.34.

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 -10.95. With this latest performance, CFLT shares dropped by -10.32% in over the last four-week period, additionally sinking by -22.26% over the last 6 months – not to mention a drop of -27.28% 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 42.67, with the RSI for the last a single of trading hit 38.58, and the three-weeks RSI is set at 45.48 for Confluent Inc. [CFLT]. The present Moving Average for the last 50 days of trading for this stock 23.47, while it was recorded at 22.94 for the last single week of trading, and 24.27 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 -78.77 and a Gross Margin at +65.45. Confluent Inc.’s Net Margin is presently recorded at -77.23.

Return on Equity for this stock declined to -55.88, with Return on Assets sitting at -19.31.

Confluent Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.20.

Confluent Inc. [CFLT] Insider Position Details

There are presently around $2,955 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 14,679,584, which is approximately 0.161% of the company’s market cap and around 0.40% of the total institutional ownership; ALTIMETER CAPITAL MANAGEMENT, LP, holding 12,995,374 shares of the stock with an approximate value of $293.69 million in CFLT stocks shares; and VANGUARD GROUP INC, currently with $276.75 million in CFLT stock with ownership of nearly 12.581% of the company’s market capitalization.

Positions in Confluent Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 148 institutional holders increased their position in Confluent Inc. [NASDAQ:CFLT] by around 28,409,562 shares. Additionally, 106 investors decreased positions by around 14,502,628 shares, while 40 investors held positions by with 87,831,461 shares. The mentioned changes placed institutional holdings at 130,743,651 shares, according to the latest SEC report filing. CFLT stock had 61 new institutional investments in for a total of 11,188,910 shares, while 44 institutional investors sold positions of 2,877,976 shares during the same period.


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