Confluent Inc. [CFLT] Is Currently -6.48 below its 200 Period Moving Avg: What Does This Mean?

Confluent Inc. [NASDAQ: CFLT] loss -6.48% or -1.47 points to close at $21.23 with a heavy trading volume of 4006651 shares. The company report on April 6, 2023 at 4:05 PM that Confluent to Announce First Quarter 2023 Financial Results on May 03, 2023.

Confluent, Inc. (NASDAQ: CFLT), the data streaming pioneer, today announced it will release financial results for its first quarter of 2023, which ended March 31, 2023, after the U.S. market close on Wednesday, May 03, 2023. Confluent will host a live video webcast to discuss the results.

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Video Webcast InformationDate: Wednesday, May 03, 2023Time: 1:30 p.m. PT / 4:30 p.m. ETWebcast:

It opened the trading session at $22.42, the shares rose to $22.52 and dropped to $21.13, the range by which the price of stock traded the whole day. The daily chart for CFLT points out that the company has recorded -16.25% loss over the past six months. However, it is still -28.82% lower than its most recent low trading price.

If we look at the average trading volume of 3.72M shares, CFLT reached to a volume of 4006651 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $29.26 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 2.20. 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.

Morgan Stanley have made an estimate for Confluent Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 12, 2023. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on March 29, 2023, representing the official price target for Confluent Inc. stock. Previously, the target price had yet another raise to $36, while MoffettNathanson analysts kept a Outperform rating on CFLT stock.

The Average True Range (ATR) for Confluent Inc. is set at 1.37, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 10.31. The Price to Book ratio for the last quarter was 7.92, with the Price to Cash per share for the same quarter was set at 6.77.

Trading performance analysis for CFLT stock

Confluent Inc. [CFLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.08. With this latest performance, CFLT shares gained by 2.07% in over the last four-week period, additionally sinking by -16.25% over the last 6 months – not to mention a drop of -37.67% 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 40.03, with the RSI for the last a single of trading hit 34.57, and the three-weeks RSI is set at 43.07 for Confluent Inc. [CFLT]. The present Moving Average for the last 50 days of trading for this stock 23.74, while it was recorded at 23.42 for the last single week of trading, and 24.32 for the last 200 days.

Confluent Inc. [CFLT]: A deeper dive into fundamental analysis

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

An analysis of insider ownership at Confluent Inc. [CFLT]

There are presently around $3,003 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 $295.0 million in CFLT stocks shares; and VANGUARD GROUP INC, currently with $277.97 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 Wednesday and at the time of the Wednesday reporting period, where 142 institutional holders increased their position in Confluent Inc. [NASDAQ:CFLT] by around 28,965,633 shares. Additionally, 108 investors decreased positions by around 14,546,620 shares, while 44 investors held positions by with 88,766,090 shares. The mentioned changes placed institutional holdings at 132,278,343 shares, according to the latest SEC report filing. CFLT stock had 56 new institutional investments in for a total of 11,142,076 shares, while 47 institutional investors sold positions of 2,917,892 shares during the same period.


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