Before You Invest In Confluent Inc (NASDAQ:CFLT), Consider This Metric

In yesterday’s Wall Street session, Confluent Inc (NASDAQ:CFLT) shares traded at $17.64, down -0.62% from the previous session.

As of this writing, 27 analysts cover Confluent Inc (NASDAQ:CFLT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $40.00 and a low of $19.00, we find $25.00. Given the previous closing price of $17.75, this indicates a potential upside of 40.85 percent. CFLT stock price is now -41.16% away from the 50-day moving average and -38.60% away from the 200-day moving average. The market capitalization of the company currently stands at $5.30B.

There are 8 analysts who have given it a hold rating, whereas 17 have given it a buy rating. Brokers who have rated the stock have averaged $26.04 as their price target over the next twelve months.

With the price target of $22, RBC Capital Mkts recently initiated with Outperform rating for Confluent Inc (NASDAQ: CFLT).

In other news, Verbowski Chad, Chief Technology Officer sold 8,519 shares of the company’s stock on Sep 21. The stock was sold for $253,866 at an average price of $29.80. Upon completion of the transaction, the Chief Technology Officer now directly owns 426,803 shares in the company, valued at $7.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 21, Chief Financial Officer Sivaram Rohan sold 860 shares of the business’s stock. A total of $25,628 was realized by selling the stock at an average price of $29.80. This leaves the insider owning 332,648 shares of the company worth $5.87 million. Insiders disposed of 32,643,478 shares of company stock worth roughly $575.83 million over the past 1 year. A total of 33.64% of the company’s stock is owned by insiders.

Monday morning saw Confluent Inc (NASDAQ: CFLT) opened at $18.17. During the past 12 months, Confluent Inc has had a low of $14.69 and a high of $41.22. As of last week, the company has a debt-to-equity ratio of 1.41, a current ratio of 4.88, and a quick ratio of 4.88. The fifty day moving average price for CFLT is $29.98 and a two-hundred day moving average price translates $28.73 for the stock.

The latest earnings results from Confluent Inc (NASDAQ: CFLT) was released for Sep, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0, beating analysts’ expectations of -$0.06 by 0.06. This compares to -$0.41 EPS in the same period last year. The net profit margin was -62.06% and return on equity was -57.79% for CFLT. The company reported revenue of $200.18 million for the quarter, compared to $151.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.93 percent. For the current quarter, analysts expect CFLT to generate $195.42M 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.

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