The stock of Confluent Inc. (NASDAQ:CFLT) last traded at $37.33, down -4.94% from the previous session.
Data from the available sources indicates that Confluent Inc. (NASDAQ:CFLT) is covered by 25 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $24.00, we find $40.00. Given the previous closing price of $39.27, this indicates a potential upside of 1.86 percent. CFLT stock price is now 15.85% away from the 50-day moving average and 46.78% away from the 200-day moving average. The market capitalization of the company currently stands at $11.20B.
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In total, 9 analysts have assigned it a hold rating, and 15 have given it a buy rating. Brokers who have rated the stock have averaged $37.43 as their price target over the next twelve months.
In other news, Verbowski Chad, Chief Technology Officer sold 8,203 shares of the company’s stock on Jun 21. The stock was sold for $272,996 at an average price of $33.28. Upon completion of the transaction, the Chief Technology Officer now directly owns 444,067 shares in the company, valued at $16.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 21, Chief Accounting Officer Liu Ying Christina sold 406 shares of the business’s stock. A total of $13,512 was realized by selling the stock at an average price of $33.28. This leaves the insider owning 135,518 shares of the company worth $5.06 million. Insiders disposed of 57,519,104 shares of company stock worth roughly $2.15 billion over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CFLT stock. A new stake in Confluent Inc. shares was purchased by ATREIDES MANAGEMENT, LP during the first quarter worth $143,004,000. NORGES BANK invested $43,173,000 in shares of CFLT during the first quarter. In the first quarter, NATIONAL BANK OF CANADA /FI/ acquired a new stake in Confluent Inc. valued at approximately $37,957,000. POLAR ASSET MANAGEMENT PARTNERS INC. acquired a new stake in CFLT for approximately $29,909,000. 1832 ASSET MANAGEMENT L.P. purchased a new stake in CFLT valued at around $20,461,000 in the second quarter. In total, there are 329 active investors with 78.40% ownership of the company’s stock.
With an opening price of $38.39 on Thursday morning, Confluent Inc. (NASDAQ: CFLT) set off the trading day. During the past 12 months, Confluent Inc. has had a low of $16.60 and a high of $41.22. As of last week, the company has a debt-to-equity ratio of 1.46, a current ratio of 5.30, and a quick ratio of 5.30. The fifty day moving average price for CFLT is $32.52 and a two-hundred day moving average price translates $25.50 for the stock.
The latest earnings results from Confluent Inc. (NASDAQ: CFLT) was released for Mar, 2023. According to the Software – Infrastructure Company, earnings per share came in at -$0.09, beating analysts’ expectations of -$0.14 by 0.05. This compares to -$0.41 EPS in the same period last year. The net profit margin was -77.60% and return on equity was -63.60% for CFLT. The company reported revenue of $174.3 million for the quarter, compared to $126.14 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.18 percent. For the current quarter, analysts expect CFLT to generate $182.45M in revenue.
Confluent Inc.(CFLT) Company Profile
Confluent, Inc. operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data. It also provides Kafka Connect, an open-source component that works as a centralized data hub for simple data integration between databases, key-value stores, search indexes, and file systems; ksqlDB, a database for stream processing applications; and stream governance, a solution that is designed for the intricacies of streaming data, which allows teams to expand usage of Apache Kafka without bypassing requirements for risk management and regulatory compliance. In addition, the company offers training and professional services. It serves automotive, communication, financial services, gaming, government, insurance, manufacturing, retail and ecommerce, and technology industries. The company was formerly known as Infinitem, Inc. and changed its name to Confluent, Inc. in September 2014. Confluent, Inc. was incorporated in 2014 and is headquartered in Mountain View, California.
