Confluent Inc [NASDAQ: CFLT] loss -0.98% or -0.29 points to close at $29.27 with a heavy trading volume of 2714890 shares. The company report on April 3, 2024 at 9:00 AM that Confluent Named a Leader in Two IDC MarketScape Reports Evaluating Data Streaming Technologies.
IDC MarketScape reports for Worldwide Analytic Stream Processing Software 2024 Vendor Assessment and Worldwide Event Brokering Software 2024 Vendor Assessment highlight the growing importance of real-time data streaming and processing.
Confluent, Inc. (NASDAQ: CFLT), the data streaming pioneer, today announced that it has been named as a Leader in the IDC MarketScape for Worldwide Analytic Stream Processing Software 2024 Vendor Assessment(1) and the IDC Marketscape for Worldwide Event Brokering Software 2024 Vendor Assessment(2).
The daily chart for CFLT points out that the company has recorded 3.46% gains over the past six months.
If we look at the average trading volume of 5.34M shares, CFLT reached to a volume of 2714890 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $34.04 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 1.22, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 11.78. The Price to Book ratio for the last quarter was 11.25, with the Price to Cash per share for the same quarter was set at 6.08.
Trading performance analysis for CFLT stock
Confluent Inc [CFLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.11. With this latest performance, CFLT shares dropped by -9.80% in over the last four-week period, additionally plugging by 3.46% over the last 6 months – not to mention a rise of 26.06% 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 40.14, with the RSI for the last a single of trading hit 32.79, and the three-weeks RSI is set at 45.54 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 30.12, while it was recorded at 29.70 for the last single week of trading, and 28.91 for the last 200 days.
Confluent Inc [CFLT]: A deeper dive into fundamental analysis
Confluent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.53 and a Current Ratio set at 4.53.
Confluent Inc [CFLT]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at Confluent Inc [CFLT]
The top three institutional holders of CFLT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CFLT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CFLT stock with ownership which is approximately 5.8386%.
