Confluent Inc [CFLT] Is Currently 9.03 below its 200 Period Moving Avg: What Does This Mean?

Confluent Inc [NASDAQ: CFLT] closed the trading session at $17.75 on 11/03/23. The day’s price range saw the stock hit a low of $16.92, while the highest price level was $18.57. The company report on November 1, 2023 at 4:03 PM that Confluent Announces Third Quarter 2023 Financial Results.

Third quarter revenue of $200 million, up 32% year over year.

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Third quarter Confluent Cloud revenue of $92 million, up 61% year over year.

The stocks have a year to date performance of -20.19 percent and weekly performance of -34.79 percent. The stock has been moved at -21.67 percent over the last six months. The stock has performed -37.19 percent around the most recent 30 days and changed -48.52 percent over the most recent 3-months.

If compared to the average trading volume of 4.37M shares, CFLT reached to a volume of 23823479 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $26.21 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 1.77. 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.

Wolfe Research have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 03, 2023.

The Average True Range (ATR) for Confluent Inc is set at 2.36, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 7.28. The Price to Book ratio for the last quarter was 6.91, with the Price to Cash per share for the same quarter was set at 6.23.

CFLT stock trade performance evaluation

Confluent Inc [CFLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -34.79. With this latest performance, CFLT shares dropped by -37.19% in over the last four-week period, additionally sinking by -21.67% over the last 6 months – not to mention a drop of -20.76% 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 26.10, with the RSI for the last a single of trading hit 23.19, and the three-weeks RSI is set at 28.81 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 29.98, while it was recorded at 23.73 for the last single week of trading, and 28.73 for the last 200 days.

Confluent Inc [CFLT]: An insightful look at the core fundamentals

Confluent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.88 and a Current Ratio set at 4.88.

Confluent Inc [CFLT]: Institutional Ownership

The top three institutional holders of CFLT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CFLT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CFLT stock with ownership which is approximately 5.7994%.