Confluent Inc (NASDAQ:CFLT) traded at $31.29 at close of the session on Tuesday, November 26 and made a downward move of -2.92% on its previous day’s price.
Looking at the stock we see that its previous close was $32.23 and the beta (5Y monthly) reads 0.817 with the day’s price range being $31.23 – $32.02. In terms of its 52-week price range, CFLT has a high of $35.07 and a low of $17.79. The company’s stock has gained about 38.45% over that past 30 days.
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Confluent Inc has a market cap of $10.26 billion and is expected to release its quarterly earnings report in December. Estimates by analysts give the company expected earnings per share (EPS) of 0.06, with the EPS growth for the year raised at 0.26 for current year and 0.26 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 256.84M, with a low of 255M and a high of 265.4M. The median projection represents growth squeezing down to 20.48% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 958.72M, or 23.40% up from figures reported last year.
On the other hand, looking at the outlook for the CFLT stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of Hold.
Based on estimates by 11 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 3 have rated the Confluent Inc (CFLT) stock as a Hold, while 8 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 11.87% off its SMA20 and 31.52% from its 50-day simple moving average. The RSI (14) is pointing at 71.15 while the volatility over the past week is 3.54% and jumps to 4.57% over the past one month. The beta value is 0.90, while the average true range (ATR) is currently pointing at 1.32. The average price target for the stock over the next 12 months is $29, with the estimates having a low of $21 and a high of $42. These price ends are 32.89% and -34.23% off the current price level respectively, although investors could be excited at the prospect of a 7.32% if the CFLT share price touches on the median price of $29.
Coming back to Confluent Inc (NASDAQ:CFLT), we note that the average 3-month trading volume was 4.08 million, while that of the preceding 10-day period stands at 5.15 million. Current shares outstanding are 328.00 million.
The insiders hold 24.74% of the company’s shares while institutions hold 68.75%. The data shows that short shares as of 2024-11-15, stood at 15.95 million at a short ratio of 3.68. This represents a 625.00 short interest in shares outstanding on 2024-11-15. Shares short fall in November from the previous month at 20.06 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 33.72% up in year-to-date price movement.
