Confluent Inc (NASDAQ: CFLT)’s stock price has increased by 1.60 compared to its previous closing price of 24.37. However, the company has seen a -6.78% decrease in its stock price over the last five trading sessions. fool.com reported 2024-07-14 that Palantir is building on its foundation of U.S. government contracts with a fast-growing U.S. commercial business. Data streaming player Confluent is rapidly acquiring new customers, thanks to its multi-product platform strategy and shift to a consumption-based business model.
Is It Worth Investing in Confluent Inc (NASDAQ: CFLT) Right Now?
CFLT has 36-month beta value of 0.91. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for CFLT is 233.32M, and currently, short sellers hold a 10.18% ratio of that float. The average trading volume of CFLT on July 22, 2024 was 3.82M shares.
CFLT’s Market Performance
CFLT stock saw a decrease of -6.78% in the past week, with a monthly decline of -8.03% and a quarterly a decrease of -7.92%. The volatility ratio for the week is 4.31%, and the volatility levels for the last 30 days are 4.78% for Confluent Inc (CFLT). The simple moving average for the last 20 days is -9.20% for CFLT stock, with a simple moving average of -8.33% for the last 200 days.
Analysts’ Opinion of CFLT
Many brokerage firms have already submitted their reports for CFLT stocks, with Evercore ISI repeating the rating for CFLT by listing it as a “Outperform.” The predicted price for CFLT in the upcoming period, according to Evercore ISI is $35 based on the research report published on June 11, 2024 of the current year 2024.
Oppenheimer, on the other hand, stated in their research note that they expect to see CFLT reach a price target of $37. The rating they have provided for CFLT stocks is “Outperform” according to the report published on May 17th, 2024.
Canaccord Genuity gave a rating of “Buy” to CFLT, setting the target price at $35 in the report published on May 08th of the current year.
CFLT Trading at -12.29% from the 50-Day Moving Average
After a stumble in the market that brought CFLT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -36.68% of loss for the given period.
Volatility was left at 4.78%, however, over the last 30 days, the volatility rate increased by 4.31%, as shares sank -8.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -21.16% lower at present.
During the last 5 trading sessions, CFLT fell by -6.85%, which changed the moving average for the period of 200-days by -12.55% in comparison to the 20-day moving average, which settled at $27.15. In addition, Confluent Inc saw 5.81% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CFLT starting from Verbowski Chad, who sale 8,312 shares at the price of $26.76 back on Jun 20 ’24. After this action, Verbowski Chad now owns 510,347 shares of Confluent Inc, valued at $222,402 using the latest closing price.
Sivaram Rohan, the CHIEF FINANCIAL OFFICER of Confluent Inc, sale 858 shares at $26.76 during a trade that took place back on Jun 20 ’24, which means that Sivaram Rohan is holding 578,263 shares at $22,957 based on the most recent closing price.
Stock Fundamentals for CFLT
Current profitability levels for the company are sitting at:
- -0.52 for the present operating margin
- 0.72 for the gross margin
The net margin for Confluent Inc stands at -0.47. The total capital return value is set at -0.21. Equity return is now at value -48.19, with -16.19 for asset returns.
Based on Confluent Inc (CFLT), the company’s capital structure generated 0.57 points at debt to capital in total, while cash flow to debt ratio is standing at -0.04. The debt to equity ratio resting at 1.32. The interest coverage ratio of the stock is -471.15.
Currently, EBITDA for the company is -443.92 million with net debt to EBITDA at -1.89. When we switch over and look at the enterprise to sales, we see a ratio of 10.5. The receivables turnover for the company is 4.1for trailing twelve months and the total asset turnover is 0.34. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.97.
Conclusion
To put it simply, Confluent Inc (CFLT) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
