A Stock You Should Be Looking At: Confluent Inc. (NASDAQ:CFLT)

The price of Confluent Inc. (NASDAQ: CFLT) closed at $20.64 in the last session, up 0.58% from day before closing price of $20.52. In other words, the price has increased by $+0.12 from its previous closing price. On the day, 2081592 shares were traded. CFLT stock price reached its highest trading level at $20.65 during the session, while it also had its lowest trading level at $19.61.

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We take a closer look at CFLT’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 5.70 and its Current Ratio is at 5.70. In the meantime, Its Debt-to-Equity ratio is 1.38 whereas as Long-Term Debt/Eq ratio is at 1.38.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Truist on September 30, 2022, initiated with a Buy rating and assigned the stock a target price of $35.

On June 09, 2022, Scotiabank started tracking the stock assigning a Sector Outperform rating and target price of $27.

DA Davidson Upgraded its Neutral to Buy on January 25, 2022, while the target price for the stock was maintained at $76.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Nov 16 when Kreps Edward Jay sold 232,500 shares for $22.47 per share. The transaction valued at 5,223,117 led to the insider holds 0 shares of the business.

Volpi Michelangelo sold 164,651 shares of CFLT for $3,789,013 on Nov 11. The Director now owns 0 shares after completing the transaction at $23.01 per share. On Nov 11, another insider, INDEX VENTURES VII (JERSEY), L, who serves as the 10% Owner of the company, sold 24,140 shares for $23.01 each. As a result, the insider received 555,519 and left with 0 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 11.31 while its Price-to-Book (P/B) ratio in mrq is 7.42.

Stock Price History:

Over the past 52 weeks, CFLT has reached a high of $85.50, while it has fallen to a 52-week low of $16.48. The 50-Day Moving Average of the stock is 23.99, while the 200-Day Moving Average is calculated to be 29.73.

Shares Statistics:

According to the various share statistics, CFLT traded on average about 2.48M shares per day over the past 3-months and 3.35M shares per day over the past 10 days. A total of 282.27M shares are outstanding, with a floating share count of 151.39M. Insiders hold about 0.50% of the company’s shares, while institutions hold 77.40% stake in the company. Shares short for CFLT as of Oct 13, 2022 were 13.5M with a Short Ratio of 15.32M, compared to 11.86M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.79% and a Short% of Float of 9.69%.

Earnings Estimates

The company has 18 analysts who recommend its stock at the moment. On average, analysts expect EPS of -$0.17 for the current quarter, with a high estimate of -$0.16 and a low estimate of -$0.18, while EPS last year was -$0.17. The consensus estimate for the next quarter is -$0.17, with high estimates of -$0.16 and low estimates of -$0.19.

Analysts are recommending an EPS of between -$0.68 and -$0.72 for the fiscal current year, implying an average EPS of -$0.7. EPS for the following year is -$0.54, with 18 analysts recommending between -$0.37 and -$0.63.

Revenue Estimates

A total of 18 analysts have provided revenue estimates for CFLT’s current fiscal year. The highest revenue estimate was $576.78M, while the lowest revenue estimate was $559.89M, resulting in an average revenue estimate of $570.2M. In the same quarter a year ago, actual revenue was $387.96M, up 47.00% from the average estimate. Based on 18 analysts’ estimates, the company’s revenue will be $763.85M in the next fiscal year. The high estimate is $794.67M and the low estimate is $711.81M. The average revenue growth estimate for next year is up 34.00% from the average revenue estimate for this year.