A share price of Confluent Inc [CFLT] is currently trading at $29.60, down -1.33%. An important factor to consider is whether the stock is rising or falling in short-term value. The CFLT shares have gain 0.14% over the last week, with a monthly amount drifted -6.33%, and not seem to be holding up well over a long-time horizon.
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On 8, April 2024, Confluent Named a Google Cloud Partner of the Year for the Fifth Time. In a post published today on Yahoo Finance, The data streaming pioneer awarded Google Cloud Technology Partner of the Year for Data – Smart Analytics.
From an analyst’s perspective:
Confluent Inc [NASDAQ: CFLT] stock has seen the most recent analyst activity on February 21, 2024, when Stifel initiated its Buy rating and assigned the stock a price target of $40. Previously, Loop Capital started tracking the stock with Hold rating on January 30, 2024, and set its price target to $23. On November 28, 2023, Bernstein initiated with a Outperform rating and assigned a price target of $34 on the stock. CapitalOne upgraded its rating to a Overweight but stick to its price target of $27 on November 08, 2023. RBC Capital Mkts initiated its recommendation with a Outperform and recommended $22 as its price target on November 06, 2023. Wolfe Research upgraded its rating to Outperform for this stock on November 03, 2023, but kept the price target unchanged to $21. In a note dated November 03, 2023, Guggenheim upgraded an Buy rating on this stock but restated the target price of $23.
Confluent Inc experienced fluctuations in its stock price throughout the past year between $14.69 and $41.22. Currently, Wall Street analysts expect the stock to reach $33.8 within the next 12 months. Confluent Inc [NASDAQ: CFLT] shares were valued at $29.60 at the most recent close of the market. An investor can expect a potential return of 14.19% based on the average CFLT price forecast.
Analyzing the CFLT fundamentals
Trailing Twelve Months sales for Confluent Inc [NASDAQ:CFLT] were 776.95M which represents 26.39% growth. Gross Profit Margin for this corporation currently stands at 0.7% with Operating Profit Margin at -0.57%, Pretax Profit Margin comes in at -0.52%, and Net Profit Margin reading is -0.57%. To continue investigating profitability, this company’s Return on Assets is posted at -0.18, Equity is -0.57 and Total Capital is -0.23. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.35.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 29.12 points at the first support level, and at 28.63 for the second support level. However, for the 1st resistance point, the stock is sitting at 30.08, and for the 2nd resistance point, it is at 30.55.
Confluent Inc [CFLT] reported earnings per share of $0.09 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.05/share, meaning a difference of $0.04 and a surprise factor of 80.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Confluent Inc [NASDAQ:CFLT] is 4.53. On the other hand, the Quick Ratio is 4.53, and the Cash Ratio is 0.72. Considering the valuation of this stock, the price to sales ratio is 11.91, the price to book ratio is 11.38.
Transactions by insiders
Recent insider trading involved Verbowski Chad, CHIEF TECHNOLOGY OFFICER, that happened on Mar 20 ’24 when 8086.0 shares were sold. CHIEF FINANCIAL OFFICER, Sivaram Rohan completed a deal on Mar 20 ’24 to sell 588.0 shares. Meanwhile, CHIEF ACCOUNTING OFFICER Liu Ying Christina sold 407.0 shares on Mar 20 ’24.
