Prepare Yourself for Liftoff: Confluent Inc (CFLT)

Confluent Inc (NASDAQ: CFLT) stock jumped 0.21% on Friday to $19.01 against a previous-day closing price of $18.97. With 4.86 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.03 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $19.13 whereas the lowest price it dropped to was $18.63. The 52-week range on CFLT shows that it touched its highest point at $41.22 and its lowest point at $14.69 during that stretch. It currently has a 1-year price target of $24.73. Beta for the stock currently stands at 0.65.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CFLT was up-trending over the past week, with a rise of 7.52%, but this was down by -36.25% over a month. Three-month performance dropped to -41.49% while six-month performance fell -30.57%. The stock lost -15.47% in the past year, while it has lost -14.52% so far this year. A look at the trailing 12-month EPS for CFLT yields -1.54 with Next year EPS estimates of 0.16. For the next quarter, that number is 0.05. This implies an EPS growth rate of 99.11% for this year and 3243.72% for next year.

Float and Shares Shorts:

At present, 307.88 million CFLT shares are outstanding with a float of 206.67 million shares on hand for trading. On Oct 30, 2023, short shares totaled 25.26 million, which was 8.20% higher than short shares on Sep 28, 2023. In addition to CFLT as the firm’s Confluent, Inc., PFLT serves as its PennantPark Floating Rate Capit.

Institutional Ownership:

Through their ownership of 79.90% of CFLT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.29% of CFLT, in contrast to 40.23% held by mutual funds. Shares owned by individuals account for 12.25%. As the largest shareholder in CFLT with 8.57% of the stake, The Vanguard Group, Inc. holds 18,160,350 shares worth 18,160,350. A second-largest stockholder of CFLT, Altimeter Capital Management LP, holds 16,611,943 shares, controlling over 7.84% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in CFLT, holding 16,120,960 shares or 7.61% stake. With a 2.67% stake in CFLT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,655,538 shares are owned by the mutual fund manager. The American Funds Small Cap World Fu, which owns about 2.64% of CFLT stock, is the second-largest Mutual Fund holder. It holds 5,589,060 shares valued at 161.58 million. Vanguard Small Cap Index Fund holds 2.19% of the stake in CFLT, owning 4,646,303 shares worth 134.32 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CFLT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CFLT analysts setting a high price target of $37.00 and a low target of $19.00, the average target price over the next 12 months is $24.73. Based on these targets, CFLT could surge 94.63% to reach the target high and fall by -0.05% to reach the target low. Reaching the average price target will result in a growth of 30.09% from current levels.

Summary of Insider Activity:

Insiders traded CFLT stock several times over the past three months with 3 Buys and 11 Sells. In these transactions, 411,666 shares were bought while 278,527 shares were sold. The number of buy transactions has increased to 113 while that of sell transactions has risen to 117 over the past year. The total number of shares bought during that period was 30,052,201 while 29,419,317 shares were sold.