Stocks of Confluent Inc (NASDAQ:CFLT) traded higher last session on Wall Street, down -3.40% to $30.10.
CFLT stock price is now 1.51% away from the 50-day moving average and 15.71% away from the 200-day moving average. The market capitalization of the company currently stands at $9.87B.
With the price target reduced from $33 to $30, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Confluent Inc (NASDAQ: CFLT). On September 04, 2024, Robert W. Baird recently initiated its ‘Neutral’ rating on the stock quoting a target price of $23, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Phan Kong, Chief Accounting Officer sold 3,947 shares of the company’s stock on Dec 20 ’24. The stock was sold for $113,437 at an average price of $28.74. Upon completion of the transaction, the Chief Accounting Officer now directly owns 179,939 shares in the company, valued at $5.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13 ’24, Director Narkhede Neha sold 186,300 shares of the business’s stock. A total of $5,710,300 was realized by selling the stock at an average price of $30.65. This leaves the insider owning 20,247 shares of the company worth $0.61 million. A total of 24.61% of the company’s stock is owned by insiders.
During the past 12 months, Confluent Inc has had a low of $17.79 and a high of $35.07. As of last week, the company has a debt-to-equity ratio of 1.19, a current ratio of 4.15, and a quick ratio of 4.15. The fifty day moving average price for CFLT is $29.6316 and a two-hundred day moving average price translates $26.01185 for the stock.
The latest earnings results from Confluent Inc (NASDAQ: CFLT) was released for 2024-09-30. The net profit margin was -38.35% and return on equity was -40.75% for CFLT. The company reported revenue of $250.2 million for the quarter, compared to $200.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.99 percent. For the current quarter, analysts expect CFLT to generate $256.86M in revenue.
