Confluent Inc [NASDAQ: CFLT] stock went on a downward path that fall over -0.43% on Wednesday, amounting to a one-week price increase of more than 2.29%. The company report on February 13, 2024 at 9:00 AM that Confluent Migration Accelerator Simplifies the Switch to a Complete Data Streaming Platform.
New program provides an “easy button” with Confluent’s partner ecosystem to augment teams, fund migrations and expedite data streaming journeys.
Confluent, Inc. (NASDAQ:CFLT), the data streaming pioneer, today announced the Confluent Migration Accelerator, a new program in partnership with the Confluent partner ecosystem to jumpstart organizations’ data streaming journeys. As enterprises look to migrate away from Apache Kafka and traditional streaming infrastructure (e.g. messaging systems), Confluent’s Migration Accelerator will lower the barrier to migration.
Over the last 12 months, CFLT stock rose by 28.47%. The one-year Confluent Inc stock forecast points to a potential upside of 3.87. The average equity rating for CFLT stock is currently 1.73, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $10.03 billion, with 307.88 million shares outstanding and 181.33 million shares in the current float. Compared to the average trading volume of 5.34M shares, CFLT stock reached a trading volume of 5690475 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 $33.89 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 1.73. 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.
Stifel have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Feb-22-24. While these analysts kept the previous recommendation, Loop Capital raised their target price to Hold. The new note on the price target was released on January 30, 2024, representing the official price target for Confluent Inc stock. Previously, the target price had yet another raise to $34, while Bernstein analysts kept a Outperform rating on CFLT stock.
The Average True Range (ATR) for Confluent Inc is set at 1.66, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 12.91. The Price to Book ratio for the last quarter was 12.68, 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 2.29. With this latest performance, CFLT shares gained by 45.45% in over the last four-week period, additionally plugging by 0.28% over the last 6 months – not to mention a rise of 28.47% 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 70.95, with the RSI for the last a single of trading hit 70.76, and the three-weeks RSI is set at 68.83 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 24.86, while it was recorded at 33.37 for the last single week of trading, and 28.60 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%.
