Confluent Inc [NASDAQ: CFLT] stock went on an upward path that rose over 31.72% on Friday, amounting to a one-week price increase of more than 31.45%. The company report on February 7, 2024 at 4:03 PM that Confluent Announces Fourth Quarter and Fiscal Year 2023 Financial Results.
Fourth quarter total revenue of $213 million, up 26% year over year; fiscal year 2023 total revenue of $777 million, up 33% year over year.
Fourth quarter subscription revenue of $203 million, up 31% year over year; fiscal year 2023 subscription revenue of $729 million, up 36% year over year.
Over the last 12 months, CFLT stock rose by 21.91%. The one-year Confluent Inc stock forecast points to a potential upside of 1.12. The average equity rating for CFLT stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.77 billion, with 307.88 million shares outstanding and 185.63 million shares in the current float. Compared to the average trading volume of 2.20 shares, CFLT stock reached a trading volume of 5.11M 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 $32.94 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 1.80. 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.
Loop Capital have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 30, 2024.
The Average True Range (ATR) for Confluent Inc is set at 1.62, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 12.57. The Price to Book ratio for the last quarter was 12.35, with the Price to Cash per share for the same quarter was set at 6.17.
CFLT Stock Performance Analysis:
Confluent Inc [CFLT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.45. With this latest performance, CFLT shares gained by 39.92% in over the last four-week period, additionally sinking by -6.10% over the last 6 months – not to mention a rise of 21.91% 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 77.10, with the RSI for the last a single of trading hit 81.30, and the three-weeks RSI is set at 72.34 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 23.44, while it was recorded at 27.16 for the last single week of trading, and 28.21 for the last 200 days.
Insight into Confluent Inc Fundamentals:
Confluent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.88 and a Current Ratio set at 4.53.
CFLT Stock EPS
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] Institutonal Ownership Details
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%.
