In today’s recent session, 6.36 million shares of the Confluent Inc (NASDAQ:CFLT) have been traded, and its beta is 0.92. Most recently the company’s share price was $35.19, and it changed around $5.09 or 16.91% from the last close, which brings the market valuation of the company to $11.54B. CFLT at last check was trading at a discount to its 52-week high of $35.07, offering almost 0.34% off that amount. The share price’s 52-week low was $17.79, which indicates that the recent value has risen by an impressive 49.45% since then. We note from Confluent Inc’s average daily trading volume that its 10-day average is 5.44 million shares, with the 3-month average coming to 4.11 million.
Confluent Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.68. If we narrow it down even further, the data shows that 0 out of 33 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 9 recommended CFLT as a Hold, whereas 17 deemed it a Buy, and 1 rated it as Underweight.
Confluent Inc (NASDAQ:CFLT) trade information
Instantly CFLT has been showing a green trend so far today with a performance of 16.91% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 35.72 on recent trading dayincreased the stock’s daily price by 1.48%. The company’s shares are currently up 25.85% year-to-date, but still up 19.81% over the last five days. On the other hand, Confluent Inc (NASDAQ:CFLT) is 30.57% up in the 30-day period. We can see from the shorts that 14.46 million shares have been sold at a short interest cover period of 3.67 day(s).
The consensus price target as assigned by Wall Street analysts is $28, which translates to bulls needing to decrease their stock price by -25.68% from its current value. Analyst projections state that CFLT is forecast to be at a low of $23 and a high of $37.
Confluent Inc (CFLT) estimates and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -40.61%. Confluent Inc earnings are expected to increase by 20.82% in 2025, but the outlook is positive 25.25% per year for the next five years.
Confluent Inc (NASDAQ:CFLT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 3.49% of Confluent Inc shares, and 88.50% of them are in the hands of institutional investors. The stock currently has a share float of 91.71%. Confluent Inc stock is held by 510.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 9.9011% of the shares, which is about 31.11 million shares worth $918.67 million.
JPMORGAN CHASE & CO, with 7.3597% or 23.51 million shares worth $694.19 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Blackrock Funds-Mid-Cap Growth Equity Portfolio were the top two Mutual Funds as of Sep 30, 2024. The former held 6.86 shares worth $242.06 million, making up 2.66% of all outstanding shares. On the other hand, Blackrock Funds-Mid-Cap Growth Equity Portfolio held roughly 5.35 shares worth around $188.86 million, which represents about 2.07% of the total shares outstanding.
