Are analysts optimistic about Confluent Inc.’s (NASDAQ:CFLT) stock?

The closing price of Confluent Inc. (NASDAQ: CFLT) was $24.64 for the day, down -2.84% from the previous closing price of $25.36. In other words, the price has decreased by -$0.72 from its previous closing price. On the day, 3564873 shares were traded. CFLT stock price reached its highest trading level at $25.27 during the session, while it also had its lowest trading level at $24.22.

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Our analysis of CFLT’s different ratios will help us gain a deeper understanding of the company. 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, Guggenheim on January 27, 2023, initiated with a Buy rating and assigned the stock a target price of $29.

On January 27, 2023, UBS Downgraded its rating to Neutral which previously was Buy and also lowered its target price recommendation from $27 to $24.

Deutsche Bank Upgraded its Hold to Buy on January 23, 2023, whereas the target price for the stock was revised from $32 to $28.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Feb 02 when Volpi Michelangelo sold 644,814 shares for $26.93 per share. The transaction valued at 17,362,357 led to the insider holds 0 shares of the business.

INDEX VENTURES VII (JERSEY), L sold 644,814 shares of CFLT for $17,362,357 on Feb 02. The 10% Owner now owns 0 shares after completing the transaction at $26.93 per share. On Feb 02, another insider, Caimi Lara, who serves as the Director of the company, sold 15,065 shares for $25.00 each. As a result, the insider received 376,625 and left with 7,688 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 12.86 while its Price-to-Book (P/B) ratio in mrq is 8.86.

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 22.02, while the 200-Day Moving Average is calculated to be 24.38.

Shares Statistics:

CFLT traded an average of 3.52M shares per day over the past three months and 7.22M shares per day over the past ten days. A total of 282.27M shares are outstanding, with a floating share count of 152.50M. 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 14.50M, 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 firm’s stock currently is rated by 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.