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Wednesday, June 7, 2023

Is Confluent Inc. (NASDAQ: CFLT) Still On The Rise?

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Confluent Inc. (CFLT) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.56, or -1.94%, to $28.32. The Confluent Inc. has recorded 19,700 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Confluent to Host Investor Day on Tuesday, June 13, 2023.

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Stocks Info

This NASDAQ-listed company operates within the Software – Infrastructure industry segment, falling under the Technology sector. At the end of the last regular session, the stock closed at $28.88 and fluctuated between $29.33 as its day high and $27.90 as its day low. The current market capitalization of Confluent Inc. is $8.55B. A total of 5.44 million shares were traded on the day, compared to an average of 3.33M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, CFLT has seen 7 BUY and 5 SELL insider trades, representing the acquisition of 1,109,956 and the disposition of 243,971 shares. Over the last 12 months, there were 118 BUYs and 120 SELLs from insiders. Insiders purchased 47,480,525 shares during that period but sold 47,994,935.

In the most recent transaction, Kreps Edward Jay sold 232,500 shares of CFLT for 23.39 per share on May 15. After the transaction, the Chief Executive Officer now owns 0 company shares. In a previous transaction on May 05, Volpi Michelangelo sold 637,268 shares at 23.00 per share. CFLT shares that Director owns now total 0.

Among the insiders who sold shares, Verbowski Chad disposed of 5,949 shares on Mar 21 at a per-share price of $22.58. This resulted in the Chief Technology Officer holding 460,646 shares of CFLT after the transaction. In another insider transaction, Liu Ying Christina sold 400 shares at $22.58 per share on Mar 21. Company shares held by the Chief Accounting Officer now total 139,420.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for CFLT in the last 3 months, the mean price target is $28.00 with high estimates of $36.00 and low estimates of $20.00. In terms of 52-week highs and lows, CFLT has a high of $34.39 and a low of $16.48.

As of this writing, CFLT has an earnings estimate of -$0.06 per share for the current quarter. EPS was calculated based on a consensus of 22 estimates, with a high estimate of -$0.04 per share and a lower estimate of -$0.07. The company reported an EPS of -$0.09 in the last quarter, which was 35.70% higher than expectations of -$0.14.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. CFLT’s latest balance sheet shows that the firm has $2.02B in Cash & Short Term Investments as of fiscal 2021. There were $1.12B in debt and $348.19M in liabilities at the time. Its Book Value Per Share was $2.55, while its Total Shareholder’s Equity was $850.28M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CFLT is Buy with a score of 4.33.

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