Confluent Inc. (NASDAQ:CFLT) saw a downside of -1.18% to close Monday at $34.48 after subtracting -$0.41 on the day. The 5-day average trading volume is 7,942,960 shares of the company’s common stock. It has gained $38.19 in the past week and touched a new high 3 times within the past 5 days. An average of 4,775,685 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,850,106.
CFLT’s 1-month performance is 2.07% or $0.70 on its low of $30.49 reached on 08/02/23. The company’s shares have touched a 52-week low of $16.60 and high of $41.22, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, CFLT has achieved 55.04% or $12.24 and has reached a new high 20 times. However, the current price is down -16.36% from the 52-week high price.
Insider Transactions
CFLT stock investors last saw insider trading activity on Jun 21.Verbowski Chad (Chief Technology Officer) most recently sold 8,203 shares at $33.28 per share on Jun 21. This transaction cost the insider $272,996. Chief Accounting Officer, Liu Ying Christina, sold 406 shares at a price of $33.28 on Jun 21. Then, on Jun 12, Director Chadwick Jonathan sold 16,625 shares at a price of $36.40 per share. This transaction amounted to $605,197.
Valuation Metrics
CFLT stock has a beta of 0.97. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 15.43 while the price-to-book (PB) in the most recent quarter is 13.47.
Confluent Inc.’s quick ratio for the period ended June 29 was 5.10, with the current ratio over the same period at 5.10. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.43, while the total debt to equity was 1.43. In terms of profitability, the gross margin trailing 12 months is 67.40%. The trailing 12-month EBITDA margin is -76.00% while for the period ending June 29, Confluent Inc.’s operating margin was -75.90%. The firm’s gross profit as reported stood at $383.53 million against revenue of $585.94 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Confluent Inc.’s cash and short-term investments amounted to $1.53 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 shrunk -13.73% to -$103.43 million, while revenue of -$152.56 million was -47.5% off the previous quarter. Analysts expected CFLT to announce -$0.06 per share in earnings in its latest quarter, but it posted $0, representing a 100.00% surprise. EBITDA for the quarter stood at more than -$114.7 million. CFLT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.57 billion, with total debt at $1.12 billion. Shareholders hold equity totaling $302.42 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 07 August was 48.00% to suggest the stock is trending Neutral, with historical volatility in this time period at 96.61%.
The stock’s 5-day moving average is $33.93, reflecting a -0.17% or -$0.06 change from its current price. CFLT is currently trading -1.57% above its 20-day SMA, +52.57% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +19.47% and SMA200 by+39.14%.
Stochastic %K and %D was 43.35% and 31.88% and the average true range (ATR) pointed at 2.47. The RSI (14) points at 49.00%, while the 14-day stochastic is at 37.17% with the period’s ATR at 2.29. The stock’s 9-day MACD Oscillator is pointing at 0.98 and -0.14 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Confluent Inc. (NASDAQ: CFLT), Wolfe Research launched coverage with a Peer perform rating. 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 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 15 have offered a “buy” rating.
What is CFLT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $30.00 and a high of $45.00, with their median price target at $40.00. Looking at these predictions, the average price target given by analysts is for Confluent Inc. (CFLT) stock is $39.38.
