Confluent Inc (CFLT) 20 Days SMA touches -11.98%: The odds favor the bear

November 20, 2023, Confluent Inc (NASDAQ: CFLT) trading session started at the price of $19.08, that was 1.95% jump from the session before. During the day, the shares moved up to $19.665 and dropped to $18.68 before settling in for the closing price of $19.01. A 52-week range for CFLT has been $14.69 – $41.22.

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Over the past five-year period, the growth rate of yearbook sales for the company of the Technology sector was 57.65%. When this article was written, the company’s average yearly earnings per share was at 99.11%. With a float of $206.67 million, this company’s outstanding shares have now reached $307.88 million.

Considering the fact that the conglomerate employs 2761 people, you should pay attention to its efficiency factor. In terms of profitability, gross margin is +65.45, operating margin of -78.77, and the pretax margin is -76.16.

Confluent Inc (CFLT) Insider Activity

Also, it is sometimes useful to examine the sentiment of large-scale investors toward Confluent Inc stocks. The insider ownership of Confluent Inc is 32.87%, while institutional ownership is 62.51%. The most recent insider transaction that took place on Sep 21, was worth 253,866. In this transaction Chief Technology Officer of this company sold 8,519 shares at a rate of $29.80, taking the stock ownership to the 426,803 shares. Before that another transaction happened on Sep 21, when Company’s Chief Financial Officer sold 860 for $29.80, making the entire transaction worth $25,628. This insider now owns 332,648 shares in total.

Confluent Inc (CFLT) Earnings and Forecasts

Going through the last 3-months fiscal report unveiled on the 9/29/2023, it has been observed that the corporation posted $0.02 earnings per share (EPS) during the time that was better than consensus figure (set at $0) by $0.02. This company achieved a net margin of -77.23 while generating a return on equity of -55.88. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.02 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 99.11% per share during the next fiscal year.

Confluent Inc (NASDAQ: CFLT) Trading Performance Indicators

You can see what Confluent Inc (CFLT) is doing with its current performance indicators. In the most recent quarter, the stock posted a quick ratio of 4.88. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 8.15.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -1.54, a number that is poised to hit 0.05 in the next quarter and is forecasted to reach 0.16 in one year’s time.

Technical Analysis of Confluent Inc (CFLT)

Compared to the last year’s volume of 4.36 million, its volume of 6.79 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 62.95%. Additionally, its Average True Range was 1.69.

During the past 100 days, Confluent Inc’s (CFLT) raw stochastic average was set at 17.68%, which indicates a significant decrease from 32.53% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 236.64% in the past 14 days, which was higher than the 102.19% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $26.80, while its 200-day Moving Average is $28.44. Nevertheless, the first resistance level for the watch stands at $19.80 in the near term. At $20.23, the stock is likely to face the second major resistance level. The third major resistance level sits at $20.79. If the price goes on to break the first support level at $18.82, it is likely to go to the next support level at $18.26. Should the price break the second support level, the third support level stands at $17.83.

Confluent Inc (NASDAQ: CFLT) Key Stats

There are 307,875K outstanding shares of the company, which has a market capitalization of 5.97 billion. As of now, sales total 585,940 K while income totals -452,550 K. Its latest quarter income was 200,180 K while its last quarter net income were -92,670 K.


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