As of Friday close, Confluent Inc.’s (NASDAQ:CFLT) stock traded at $29.41. The average number of shares traded per day over the past five days has been 2,663,580 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.77 fall in that time frame. In the last twenty days, the average volume was 3,519,060, while in the previous 50 days, it was 3,827,732.
Since last month, CFLT stock retreated -13.19%. Shares of the company fell to $29.18 on 09/22/23, the lowest level in the past month. A 52-week high of $41.22 was reached on 07/19/23 after having rallying from a 52-week low of $16.60. Since the beginning of this year, CFLT’s stock price has risen by 32.24% or $7.17, and marked a new high 20 times. However, the stock has declined by -28.66% since its 52-week high.
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CFLT stock investors should be aware that Confluent Inc. (CFLT) stock had its last reported insider trading activity 12 days ago on Sep 11. Chadwick Jonathan, the Director of the company, disposed of 16,625 shares for $33.79 on Sep 11. It resulted in a $561,814 divestment by the insider. Kreps Edward Jay sold 232,500 shares at an average price of $33.27 on Sep 05. The insider now owns 0 shares following the transaction. On Aug 22, Chief Technology Officer Verbowski Chad sold 8,745 shares at $32.14 apiece. The transaction was valued at $281,064.
Valuation Metrics
The stock’s beta is 1.03. Besides these, the trailing price-to-sales (P/S) ratio of 13.54, the price-to-book (PB) ratio of 11.49.
Financial Health
In the three months ended June 29, Confluent Inc.’s quick ratio stood at 5.10, while its current ratio was 5.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.43, and the total debt-to-equity ratio was 1.43. On the profitability front, the trailing twelve-month gross margin is 67.40% percent. In the year ended June 29, EBITDA margin amounted to -76.00%, whereas operating margins totaled -75.90%. Based on annual data, CFLT earned $383.53 million in gross profit and brought in $585.94 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -25.30%. Return on equity (ROE) for the past 12 months was -62.50%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CFLT’s revenue rose 26.35% to $174.3 million during the quarter, while net income inched up to $189.29 million. While analysts expected Confluent Inc. to report -$0.06 quarterly earnings, the actual figure was $0 per share. During the quarter, the company generated -$114.7 million in EBITDA. The liabilities of Confluent Inc. were 1.57 billion at the end of its most recent quarter ended June 29, and its total debt was $1.12 billion. The value of shareholders’ equity is $302.42 million.
Technical Picture
This quick technical analysis looks at Confluent Inc.’s (CFLT) price momentum. With a historical volatility rate of 29.41%, the RSI 9-day stood at 26.18% on 22 September.
With respect to its five-day moving average, the current Confluent Inc. price is down by -8.61% percent or -$2.77. At present, CFLT shares trade -9.17% below its 20-day simple moving average and +36.09% percent above its 100-day simple moving average. However, the stock is currently trading approximately -20.43% below its SMA50 and +44.31% above its SMA200.
Stochastic coefficient K was 2.34% and Stochastic coefficient D was 6.59%, while ATR was 1.40. Given the Stochastic reading of 3.81% for the 14-day period, the RSI (14) reading has been calculated as 32.91%. As of today, the MACD Oscillator reading stands at -1.97, while the 14-day reading stands at -2.46.
Analyst Ratings
Canaccord Genuity launched its rating on Confluent Inc. (NASDAQ: CFLT) to a Buy in a note to investors on September 01, 2023. Confluent Inc. (CFLT) has been rated Overweight by analysts. According to 0 brokerage firms, CFLT is a sell, and 9 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Confluent Inc. stock as buy, with 15 recommending it as overweight.
With a median target price of $40.00, the current consensus forecast for the stock is $30.00 – $45.00. Based on these forecasts, analysts predict Confluent Inc. (CFLT) will achieve an average price target of $39.33.
