Weekly Performance Analysis for Confluent Inc. (CFLT)

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Confluent Inc. (NASDAQ:CFLT) saw a downside of -1.03% to $23.14 after subtracting -$0.24 on Tuesday. The 5-day average trading volume is 2,577,779 shares of the company’s common stock. It has gained $23.71 in the past week and touched a new high 3 times within the past 5 days. An average of 2,469,740 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,643,670.

CFLT’s 1-month performance is 3.18% or $0.78 on its low of $16.60 reached on 01/06/23. The company’s shares have touched a 52-week low of $16.48 and high of $81.11, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, CFLT has achieved 5.13% or $0.53 and has reached a new high 3 times. However, the current price is down -71.47% from the 52-week high price.

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Insider Transactions

CFLT stock investors last saw insider trading activity on Dec 21.Liu Ying Christina (Chief Accounting Officer) most recently sold 380 shares at $23.11 per share on Dec 21. This transaction cost the insider $8,782. SVP of Engineering, Verbowski Chad, sold 7,668 shares at a price of $23.11 on Dec 21. Then, on Dec 13, Chief Marketing Officer Buscemi Stephanie sold 5,514 shares at a price of $25.00 per share. This transaction amounted to $137,850.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 11.74 while the price-to-book (PB) in the most recent quarter is 8.41.

Confluent Inc.’s quick ratio for the period ended September 29 was 5.70, with the current ratio over the same period at 5.70. As well, the company’s long term debt to equity for the quarter ending September 29 was 1.38, while the total debt to equity was 1.38. In terms of profitability, the gross margin trailing 12 months is 63.80%. The firm’s gross profit as reported stood at $250.57 million against revenue of $387.86 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Confluent Inc.’s cash and short-term investments amounted to $1.44 billion against total debt of $1.12 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 17.56% to -$116.05 million, while revenue of -$117.63 million was -1.36% off the previous quarter. Analysts expected CFLT to announce -$0.17 per share in earnings in its latest quarter, but it posted -$0.13, representing a 23.50% surprise. EBITDA for the quarter stood at more than -$109.31 million. CFLT stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 1.53 billion, with total debt at $1.12 billion. Shareholders hold equity totaling $286.4 million.

Let’s look briefly at Confluent Inc. (CFLT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 60.23% to suggest the stock is trending Neutral, with historical volatility in this time period at 67.49%.

The stock’s 5-day moving average is $21.81, reflecting a +6.52% or $1.40 change from its current price. CFLT is currently trading +2.78% above its 20-day SMA, -17.03% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +19.49% and SMA200 by-42.81%.

Stochastic %K and %D was 86.61% and 76.67% and the average true range (ATR) pointed at 1.42. The RSI (14) points at 56.12%, while the 14-day stochastic is at 86.85% with the period’s ATR at 1.45. The stock’s 9-day MACD Oscillator is pointing at 1.22 and 1.94 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Confluent Inc. (NASDAQ: CFLT), Deutsche Bank upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for CFLT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CFLT as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 11 have offered a “buy” rating.

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