Does Confluent Inc (CFLT) offer a good opportunity for investors?

With 11.24 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.2 shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $33.11 whereas the lowest price it dropped to was $31.29. 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 $32.94. Beta for the stock currently stands at 0.84.

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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 31.45%, but this was up by 39.92% over a month. Three-month performance surged to 78.20% while six-month performance fell -6.10%. The stock gained 21.91% in the past year, while it has gained 35.56% so far this year. A look at the trailing 12-month EPS for CFLT yields -1.48 with Next year EPS estimates of 0.34. For the next quarter, that number is 0.02. This implies an EPS growth rate of 337.22% for this year and 92.46% for next year.

Float and Shares Shorts:

At present, 307.88 million CFLT shares are outstanding with a float of 185.63 million shares on hand for trading. On Jan 31, 2024, short shares totaled 22.61 million, which was 7.34% higher than short shares on Dec 29, 2023. In addition to Mr. Edward Kreps as the firm’s Co-Founder, Chairman & CEO, Ms. Neha Narkhede serves as its Co-Founder & Director.

Institutional Ownership:

Through their ownership of 93.77% of CFLT’s outstanding shares, institutional investors have majority control over the company.

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 $42.00 and a low target of $19.27, the average target price over the next 12 months is $32.94. Based on these targets, CFLT could surge 32.41% to reach the target high and fall by -39.25% to reach the target low. Reaching the average price target will result in a growth of 3.85% from current levels.

Summary of Insider Activity:

Insiders traded CFLT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 83 while that of sell transactions has risen to 103 over the past year. The total number of shares bought during that period was 24,999,469 while 25,429,773 shares were sold.