Confluent Inc [NASDAQ: CFLT] closed the trading session at $22.40. The company report on January 8, 2024 at 8:30 AM that Confluent to Announce Fourth Quarter and Fiscal Year 2023 Financial Results on February 07, 2024.
Confluent, Inc. (NASDAQ: CFLT), the data streaming pioneer, today announced it will release financial results for its fourth quarter and fiscal year 2023, which ended December 31, 2023, after the U.S. market close on Wednesday, February 07, 2024. Confluent will host a live video webcast to discuss the results.
The stocks have a year to date performance of -4.27 percent and weekly performance of 0.40 percent. The stock has been moved at -39.44 percent over the last six months. The stock has performed -9.75 percent around the most recent 30 days and changed -24.88 percent over the most recent 3-months.
If compared to the average trading volume of 5.73M shares, CFLT reached to a volume of 7711002 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 $26.38 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 1.79. 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.
Bernstein have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 28, 2023.
The Average True Range (ATR) for Confluent Inc is set at 1.00, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 9.42. The Price to Book ratio for the last quarter was 8.72, with the Price to Cash per share for the same quarter was set at 6.08.
CFLT stock trade performance evaluation
Confluent Inc [CFLT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.40. With this latest performance, CFLT shares dropped by -9.75% in over the last four-week period, additionally sinking by -39.44% over the last 6 months – not to mention a rise of 10.89% 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 47.82, with the RSI for the last a single of trading hit 48.30, and the three-weeks RSI is set at 47.47 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 21.89, while it was recorded at 22.14 for the last single week of trading, and 28.17 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.
Earnings per share (EPS) analysis for Confluent Inc [CFLT] stock
With the latest financial reports released by the company, Confluent Inc posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 35.70%. 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.
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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CFLT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CFLT stock with ownership which is approximately 5.8325%.
