Stock That Is Worth Exploring Now: Confluent Inc (NASDAQ: CFLT)

Confluent Inc (NASDAQ:CFLT) does about 4.48M shares in volume on a normal day but saw 3732058 shares change hands in Friday’s trading. The company now has a market cap of 9.34B USD. Its current market price is $29.42, marking a decrease of -5.19% compared to the previous close of $31.03. The 52 week high reached by this stock is $41.22 whilst the lowest price level in 52 weeks is $14.69.

Confluent Inc (CFLT) has a 20-day trading average at $28.63 and the current price is -28.63% off the 52-week high compared with 100.27% distance from its 52-week low. The 50-day simple moving average of the closing price is $30.12 and its 200-day simple moving average is $28.05. If we look at the stock’s price movements over the week, volatility stands at 5.35%, which decreases to 4.34% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 51.05 to suggest the stock is neutral.

The consensus objective for the share price is $35.34, suggesting that the stock has a potential upside of 16.75% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 08, 2024 when Canaccord Genuity upgraded the stock to “Buy” and issued a price target of $35. Loop Capital initiated its price target at $23.

Confluent Inc (CFLT) stock is up 2.83% over the week and -1.34% over the past month. Its price is 25.73% year-to-date and 27.03% over the past year.

To reach the target analysts have set, the stock logically needs to grow 16.75 percent from here.

The company has a return on investment of -19.67% and return on equity of -48.19%. The forward price to earnings ratio is 86.54. The beta has a value of 0.96. Price to book ratio is 11.04 and price to sales ratio is 11.39.