Confluent Inc [CFLT] gain 35.21% so far this year. What now?

Confluent Inc [NASDAQ: CFLT] price plunged by -0.94 percent to reach at -$0.3. The company report on March 12, 2024 at 6:00 PM that Confluent Extends Confluent Cloud Access With Completion of IRAP PROTECTED Assessment.

Enabling more Australian Government agencies to use the industry’s leading data streaming platform across cloud providers.

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Confluent, Inc. (NASDAQ: CFLT), the data streaming pioneer, today announced that Australian Government agencies with an Information Security Manual PROTECTED level requirement can now use Confluent Cloud across Amazon Web Services (AWS), Microsoft Azure and Google Cloud. This will enable even more Australian government agencies to integrate data across their applications and systems to reinvent employee and citizen experiences.

The one-year CFLT stock forecast points to a potential upside of 6.78. The average equity rating for CFLT stock is currently 1.77, trading closer to a bullish pattern in the stock market.

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 $33.94 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 1.77. 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.

Stifel have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 21, 2024. 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 1.46, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 12.73. The Price to Book ratio for the last quarter was 12.16, with the Price to Cash per share for the same quarter was set at 6.08.

CFLT Stock Performance Analysis:

Confluent Inc [CFLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.28. With this latest performance, CFLT shares gained by 0.38% in over the last four-week period, additionally sinking by -5.72% over the last 6 months – not to mention a rise of 42.78% 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 52.09, with the RSI for the last a single of trading hit 45.09, and the three-weeks RSI is set at 55.45 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 27.60, while it was recorded at 32.21 for the last single week of trading, and 29.18 for the last 200 days.

Insight into Confluent Inc Fundamentals:

Confluent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.53 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%.