Is Confluent Inc.’s (NASDAQ: CFLT) 17.49% Gain This Week Telling Us Something New? – Marketing Sentinel
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Is Confluent Inc.’s (NASDAQ: CFLT) 17.49% Gain This Week Telling Us Something New?

During the last session, Confluent Inc. (NASDAQ:CFLT)’s traded shares were 3.56 million. At the end of the trading day, the stock’s price was $29.02, reflecting an intraday gain of 8.12% or $2.18. The 52-week high for the CFLT share is $94.97, that puts it down -227.26 from that peak though still a striking 43.21% gain since the share price plummeted to a 52-week low of $16.48. The company’s market capitalization is $7.83B, and the average intraday trading volume over the past 10 days was 1.84 million shares, and the average trade volume was 3.41 million shares over the past three months.

Confluent Inc. (CFLT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. CFLT has a Sell rating from 0 analyst(s) out of 18 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.19.

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Confluent Inc. (NASDAQ:CFLT) trade information

Confluent Inc. (CFLT) registered a 8.12% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.12% in intraday trading to $29.02 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 17.49%, and it has moved by 6.50% in 30 days. Based on these gigs, the overall price performance for the year is -29.92%. The short interest in Confluent Inc. (NASDAQ:CFLT) is 16.1 million shares and it means that shorts have 4.69 day(s) to cover.

The consensus price target of analysts on Wall Street is $35.63, which implies an increase of 18.55% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $26.00 and $80.00 respectively. As a result, CFLT is trading at a discount of -175.67% off the target high and 10.41% off the low.

Confluent Inc. (CFLT) estimates and forecasts

Statistics show that Confluent Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Confluent Inc. (CFLT) shares have gone down -57.67% during the last six months, with a year-to-date growth rate less than the industry average at 11.63% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 38.70% this quarter and then drop -11.80% in the quarter after that. In the rating firms’ projections, revenue will increase 44.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $131.86 million as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $142.09 million by the end of Sep 2022.

While earnings are projected to return -99.80% in 2022, the next five years will return 38.70% per annum.

CFLT Dividends

Confluent Inc. is due to release its next quarterly earnings on November 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Confluent Inc. (NASDAQ:CFLT)’s Major holders

Confluent Inc. insiders own 1.56% of total outstanding shares while institutional holders control 76.43%, with the float percentage being 77.65%. Price (T.Rowe) Associates Inc is the largest shareholder of the company, while 273 institutions own stock in it. As of Mar 30, 2022, the company held over 10.69 million shares (or 8.49% of all shares), a total value of $438.24 million in shares.

The next largest institutional holding, with 7.97 million shares, is of JP Morgan Chase & Company’s that is approximately 6.33% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $326.83 million.

Also, the Mutual Funds coming in first place with the largest holdings of Confluent Inc. (CFLT) shares are Price (T.Rowe) Blue Chip Growth Fund Inc. and First Tr Exchange Traded Fd II-First Tr Cloud Computing ETF. Data provided on Mar 30, 2022 indicates that Price (T.Rowe) Blue Chip Growth Fund Inc. owns about 2.99 million shares. This amounts to just over 2.37 percent of the company’s overall shares, with a $122.52 million market value. The same data shows that the other fund manager holds slightly less at 2.93 million, or about 2.32% of the stock, which is worth about $68.0 million.

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