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Confluent Inc. (NASDAQ: CFLT) Rose 40.69% From Its 52-Week Low; YTD Numbers Rose 25.85% – Here Are Some Things To Keep In Mind

During the last session, Confluent Inc. (NASDAQ:CFLT)’s traded shares were 3.46 million. At the end of the trading day, the stock’s price was $27.99, reflecting an intraday loss of -3.01% or -$0.87. The 52-week high for the CFLT share is $34.39, that puts it down -22.87 from that peak though still a striking 40.69% gain since the share price plummeted to a 52-week low of $16.60. The company’s market capitalization is $8.29B, and the average intraday trading volume over the past 10 days was 4.2 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 2.20. CFLT has a Sell rating from 0 analyst(s) out of 22 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 14 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 -$0.06.

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Confluent Inc. (NASDAQ:CFLT) trade information

Confluent Inc. (CFLT) registered a -3.01% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -3.01% in intraday trading to $27.99 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 2.23%, and it has moved by 22.66% in 30 days. Based on these gigs, the overall price performance for the year is 57.60%. The short interest in Confluent Inc. (NASDAQ:CFLT) is 16.01 million shares and it means that shorts have 5.73 day(s) to cover.

The consensus price target of analysts on Wall Street is $28.00, which implies an increase of 0.04% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $20.00 and $36.00 respectively. As a result, CFLT is trading at a discount of -28.62% off the target high and 28.55% off the low.

Confluent Inc. (CFLT) estimates and forecasts

Statistics show that Confluent Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Confluent Inc. (CFLT) shares have gone up 35.61% during the last six months, with a year-to-date growth rate more than the industry average at 70.69% against 19.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 62.50% this quarter and then jump 61.50% in the quarter after that. In the rating firms’ projections, revenue will increase 30.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $182.42 million as predicted by 20 analyst(s). Meanwhile, a consensus of 20 analyst(s) estimates revenue growth to $193.61 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $139.41 million and $144.81 million respectively. In this case, analysts expect current quarter sales to grow by 30.90% and then jump by 33.70% in the coming quarter.

While earnings are projected to return -28.10% in 2023.

CFLT Dividends

Confluent Inc. is due to release its next quarterly earnings between August 01 and August 07. 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 5.09% of total outstanding shares while institutional holders control 71.47%, with the float percentage being 75.31%. JP Morgan Chase & Company is the largest shareholder of the company, while 329 institutions own stock in it. As of Mar 30, 2023, the company held over 18.08 million shares (or 9.63% of all shares), a total value of $435.19 million in shares.

The next largest institutional holding, with 14.49 million shares, is of Altimeter Capital Management, LP’s that is approximately 7.72% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $348.82 million.

Also, the Mutual Funds coming in first place with the largest holdings of Confluent Inc. (CFLT) shares are Smallcap World Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that Smallcap World Fund owns about 5.71 million shares. This amounts to just over 3.05 percent of the company’s overall shares, with a $126.99 million market value. The same data shows that the other fund manager holds slightly less at 3.79 million, or about 2.02% of the stock, which is worth about $84.24 million.

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