Confluent Inc [NASDAQ: CFLT] stock went on a downward path that fall over -1.18% on Tuesday, amounting to a one-week price decrease of less than -4.29%.
Over the last 12 months, CFLT stock dropped by -29.49%. The one-year Confluent Inc stock forecast points to a potential upside of 30.42. The average equity rating for CFLT stock is currently 1.70, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $7.72 billion, with 317.83 million shares outstanding and 233.32 million shares in the current float. Compared to the average trading volume of 3.78M shares, CFLT stock reached a trading volume of 4627930 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 $34.91 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 1.70. 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.
Evercore ISI have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 11, 2024. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on May 17, 2024, representing the official price target for Confluent Inc stock. Previously, the target price had yet another raise to $35, while Canaccord Genuity analysts kept a Buy rating on CFLT stock.
The Average True Range (ATR) for Confluent Inc is set at 1.17, 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 9.12, with the Price to Cash per share for the same quarter was set at 6.00.
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 -4.29. With this latest performance, CFLT shares dropped by -17.74% in over the last four-week period, additionally plugging by 2.36% over the last 6 months – not to mention a drop of -29.49% 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 38.17, with the RSI for the last a single of trading hit 35.98, and the three-weeks RSI is set at 39.95 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 27.39, while it was recorded at 24.65 for the last single week of trading, and 26.84 for the last 200 days.
Insight into Confluent Inc Fundamentals:
Confluent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.97 and a Current Ratio set at 4.97.
Confluent Inc [CFLT] Institutonal Ownership Details
The top three institutional holders of CFLT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in CFLT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in CFLT stock with ownership which is approximately 5.1238%.
