Confluent Inc (NASDAQ:CFLT) price on current trading day, fall -3.74% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $26.77.
A look at the stock’s price movement, the level at last check in today’s session was $27.81, moving within a range at $26.04 and $26.925. The beta value (5-Year monthly) was 0.817. Turning to its 52-week performance, $35.07 and $17.79 were the 52-week high and 52-week low respectively. Overall, CFLT moved -12.20% over the past month.
Confluent Inc’s market cap currently stands at around $8.78 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 256.86M for the company’s revenue for the quarter, with a low and high estimate of 255M and 265.4M respectively. The average forecast suggests up to a 20.49% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 957.52M, representing a 23.24% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CFLT is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 8 recommend CFLT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CFLT’s current price about -6.97% and -9.05% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.61, while 7-day volatility ratio is 2.85% and 3.75% in the 30-day chart. Further, Confluent Inc (CFLT) has a beta value of 0.91, and an average true range (ATR) of 1.21. Analysts have given the company’s stock an average 52-week price target of $28, forecast between a low of $23 and high of $37. Looking at the price targets, the low is 14.08% off recent price level in today’s trading while to achieve the yearly target high, it has to move -38.21%. Nonetheless, investors will most likely welcome a -4.59% jump to $28 which is the analysts’ median price.
If we refocus on Confluent Inc (NASDAQ:CFLT), historical trading data shows that trading volumes averaged 2.62 over the past 10 days and 3.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 257.42 million shares.
The 24.61% of Confluent Inc’s shares are in the hands of company insiders while institutional holders own 68.83% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.85 million on 2024-12-31, giving us a short ratio of 3.48. The data shows that as of 2024-12-31 short interest in Confluent Inc (CFLT) stood at 463.99999999999994 of shares outstanding, with shares short falling to 14.14 million registered in 2024-11-29. Current price change has pushed the stock -4.26% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CFLT stock continues to rise going into the next quarter.
