Confluent Inc [NASDAQ: CFLT] jumped around 0.32 points on Friday, while shares priced at $21.22 at the close of the session, up 1.53%.
Compared to the average trading volume of 4.17M shares, CFLT reached a trading volume of 13696513 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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What do top market gurus say 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 $30.79 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 1.59. 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.
JP Morgan have made an estimate for Confluent Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 09, 2024. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on June 11, 2024, representing the official price target for Confluent Inc stock. Previously, the target price had yet another raise to $37, while Oppenheimer analysts kept a Outperform rating on CFLT stock.
The Average True Range (ATR) for Confluent Inc is set at 0.96, with the Price to Sales ratio for CFLT stock in the period of the last 12 months amounting to 7.78. The Price to Book ratio for the last quarter was 7.82, with the Price to Cash per share for the same quarter was set at 6.09.
How has CFLT stock performed recently?
Confluent Inc [CFLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.66. With this latest performance, CFLT shares gained by 2.86% in over the last four-week period, additionally sinking by -38.13% over the last 6 months – not to mention a drop of -35.05% 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 44.44, with the RSI for the last a single of trading hit 47.46, and the three-weeks RSI is set at 42.93 for Confluent Inc [CFLT]. The present Moving Average for the last 50 days of trading for this stock 24.02, while it was recorded at 21.01 for the last single week of trading, and 26.39 for the last 200 days.
Confluent Inc [CFLT]: Deeper insight into the fundamentals
Confluent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.35 and a Current Ratio set at 4.35.
Earnings analysis for Confluent Inc [CFLT]
With the latest financial reports released by the company, Confluent Inc posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.02. 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.
Insider trade positions for Confluent Inc [CFLT]
There are presently around $93.91%, or 97.51%% of CFLT stock, in the hands of institutional investors. The top three institutional holders of CFLT stocks are: BLACKROCK INC. with ownership of 31.11 million shares, which is approximately 9.9011%. JPMORGAN CHASE & CO, holding 23.51 million shares of the stock with an approximate value of $$694.19 million in CFLT stocks shares; and JPMORGAN CHASE & CO, currently with $$651.79 million in CFLT stock with ownership which is approximately 7.0248%.
