Update from Confluent Inc. (CFLT): A steady trajectory

Confluent Inc. (NASDAQ: CFLT) closed the day trading at $21.45 up 6.19% from the previous closing price of $20.20. In other words, the price has increased by $+1.25 from its previous closing price. On the day, 2832357 shares were traded. CFLT stock price reached its highest trading level at $21.51 during the session, while it also had its lowest trading level at $20.31.

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Ratios:

For a better understanding of CFLT, let’s look at its different ratios. 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, FBN Securities on January 17, 2023, initiated with a Outperform rating and assigned the stock a target price of $30.

On January 10, 2023, Barclays Upgraded its rating to Overweight which previously was Equal Weight and also lowered its target price recommendation from $27 to $24.

Scotiabank Downgraded its Sector Outperform to Sector Perform on January 06, 2023, while the target price for the stock was maintained at $21.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 21 when Liu Ying Christina sold 380 shares for $23.11 per share. The transaction valued at 8,782 led to the insider holds 38,990 shares of the business.

Verbowski Chad sold 7,668 shares of CFLT for $177,207 on Dec 21. The SVP of Engineering now owns 330,723 shares after completing the transaction at $23.11 per share. On Dec 13, another insider, Buscemi Stephanie, who serves as the Chief Marketing Officer of the company, sold 5,514 shares for $25.00 each. As a result, the insider received 137,850 and left with 39,270 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 10.77 while its Price-to-Book (P/B) ratio in mrq is 7.72.

Stock Price History:

Over the past 52 weeks, CFLT has reached a high of $81.11, while it has fallen to a 52-week low of $16.48. The 50-Day Moving Average of the stock is 21.60, while the 200-Day Moving Average is calculated to be 25.16.

Shares Statistics:

Over the past 3-months, CFLT traded about 2.84M shares per day on average, while over the past 10 days, CFLT traded about 2.82M shares per day. A total of 282.27M shares are outstanding, with a floating share count of 151.39M. Insiders hold about 0.40% of the company’s shares, while institutions hold 78.40% stake in the company. Shares short for CFLT as of Oct 13, 2022 were 13.5M with a Short Ratio of 13.16M, 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

Current recommendations for the stock of the company come from 18 analysts. 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.