In today’s recent session, 0.55 million shares of the Confluent Inc (NASDAQ:CFLT) have been traded, and its beta is 1.04. Most recently the company’s share price was $18.69, and it changed around $0.02 or 0.13% from the last close, which brings the market valuation of the company to $5.93B. CFLT at last check was trading at a discount to its 52-week high of $35.47, offering almost -89.78% off that amount. The share price’s 52-week low was $14.69, which indicates that the recent value has risen by an impressive 21.4% since then. We note from Confluent Inc’s average daily trading volume that its 10-day average is 6.55 million shares, with the 3-month average coming to 4.33 million.
Confluent Inc (NASDAQ:CFLT) trade information
Instantly CFLT has been showing a green trend so far today with a performance of 0.13% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 25.64 on recent trading dayincreased the stock’s daily price by 27.11%. The company’s shares are currently down -20.11% year-to-date, but still down -23.03% over the last five days. On the other hand, Confluent Inc (NASDAQ:CFLT) is -35.98% down in the 30-day period. We can see from the shorts that 25.02 million shares have been sold at a short interest cover period of 6.3 day(s).
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The consensus price target as assigned by Wall Street analysts is $34, which translates to bulls needing to increase their stock price by 45.03% from its current value. Analyst projections state that CFLT is forecast to be at a low of $21 and a high of $42.
Confluent Inc (CFLT) estimates and forecasts
Confluent Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -21.28 percent over the past six months and at a 400.00% annual growth rate that is well above the industry average of 14.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 150.00% in revenue this quarter, and will report a decrease of -44.40% in the next quarter. The year-over-year growth rate is expected to be 22.90%, up from the previous year.
Consensus estimates provided by 28 financial analysts predict the company will bring in an average of 245.01M in revenue for the current quarter. 28 analysts expect Confluent Inc to make 258.28M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 200.18M and 213.18M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 22.40%. Forecasts for the next quarter put sales growth at 21.20%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -40.61%.
CFLT Dividends
Confluent Inc’s next quarterly earnings report is expected to be released on 2024-Oct-30.
Confluent Inc (NASDAQ:CFLT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 3.71% of Confluent Inc shares, and 86.10% of them are in the hands of institutional investors. The stock currently has a share float of 89.42%. Confluent Inc stock is held by 587.0 institutions, with JPMORGAN CHASE & CO being the largest institutional investor. By 2024-03-31, it held 7.4478% of the shares, which is about 22.4 million shares worth $683.57 million.
BLACKROCK INC., with 7.3226% or 22.02 million shares worth $672.08 million as of 2024-03-31, holds the second largest percentage of outstanding shares.
