In last trading session, Confluent Inc. (NASDAQ:CFLT) saw 3.16 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $23.18 trading at $2.54 or 12.31% at ring of the bell on the day assigns it a market valuation of $6.82B. That closing price of CFLT’s stock is at a discount of -268.85% from its 52-week high price of $85.50 and is indicating a premium of 28.9% from its 52-week low price of $16.48. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.14 million shares which gives us an average trading volume of 2.48 million if we extend that period to 3-months.
For Confluent Inc. (CFLT), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.40. Splitting up the data highlights that, out of 19 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 11 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.17 in the current quarter.
Confluent Inc. (NASDAQ:CFLT) trade information
Upright in the green during last session for gaining 12.31%, in the last five days CFLT remained trading in the green while hitting it’s week-highest on Wednesday, 11/23/22 when the stock touched $23.18 price level, adding 1.36% to its value on the day. Confluent Inc.’s shares saw a change of -69.60% in year-to-date performance and have moved 3.07% in past 5-day. Confluent Inc. (NASDAQ:CFLT) showed a performance of -17.21% in past 30-days. Number of shares sold short was 13.5 million shares which calculate 6.33 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $36.18 to the stock, which implies a rise of 35.93% to its current value. Analysts have been projecting $25.00 as a low price target for the stock while placing it at a high target of $60.00. It follows that stock’s current price would drop -158.84% in reaching the projected high whereas dropping to the targeted low would mean a loss of -7.85% for stock’s current value.
Confluent Inc. (CFLT) estimates and forecasts
Statistics highlight that Confluent Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 23.82% of value to its shares in past 6 months, showing an annual growth rate of 25.58% while that of industry is 14.10. Apart from that, the company came raising its revenue forecast for fiscal year 2022. This year revenue growth is estimated to rise 47.00% from the last financial year’s standing.
16 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $144.81 million for the same. And 16 analysts are in estimates of company making revenue of $160.27 million in the next quarter that will end on Dec 2022.
In 2022, company’s earnings growth rate is likely to be around -38.60% while estimates for its earnings growth in next 5 years are of 45.60%.
Confluent Inc. is more likely to be releasing its next quarterly report on November 02 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Confluent Inc. (NASDAQ:CFLT)’s Major holders
Insiders are in possession of 1.66% of company’s total shares while institution are holding 83.31 percent of that, with stock having share float percentage of 84.72%. Investors also watch the number of corporate investors in a company very closely, which is 83.31% institutions for Confluent Inc. that are currently holding shares of the company. Altimeter Capital Management, LP is the top institutional holder at CFLT for having 14.46 million shares of worth $335.96 million. And as of Jun 29, 2022, it was holding 1.02% of the company’s outstanding shares.
The second largest institutional holder is JP Morgan Chase & Company, which was holding about 13.17 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 0.93% of outstanding shares, having a total worth of $305.95 million.
On the other hand, Smallcap World Fund and Price (T.Rowe) Blue Chip Growth Fund Inc. are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 6.65 million shares of worth $154.61 million or 0.47% of the total outstanding shares. The later fund manager was in possession of 2.99 million shares on Jun 29, 2022, making its stake of worth around $69.47 million in the company or a holder of 0.21% of company’s stock.