In yesterday’s Wall Street session, Confluent Inc (NASDAQ:CFLT) shares traded at $26.17, up 13.44% from the previous session.
CFLT stock price is now 24.98% away from the 50-day moving average and 0.30% away from the 200-day moving average. The market capitalization of the company currently stands at $8.45B.
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With the price target of $23, Robert W. Baird recently initiated with Neutral rating for Confluent Inc (NASDAQ: CFLT). On August 09, 2024, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $25, while ‘Evercore ISI’ rates the stock as ‘Outperform’
In other news, Phan Kong, Chief Accounting Officer sold 190 shares of the company’s stock on Sep 20 ’24. The stock was sold for $3,823 at an average price of $20.12. Upon completion of the transaction, the Chief Accounting Officer now directly owns 124,652 shares in the company, valued at $3.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 04 ’24, CHIEF EXECUTIVE OFFICER Kreps Edward Jay sold 232,500 shares of the business’s stock. A total of $4,647,675 was realized by selling the stock at an average price of $19.99. This leaves the insider owning 452,488 shares of the company worth $11.84 million. A total of 25.98% of the company’s stock is owned by insiders.
During the past 12 months, Confluent Inc has had a low of $14.69 and a high of $35.07. As of last week, the company has a debt-to-equity ratio of 1.27, a current ratio of 4.35, and a quick ratio of 4.35. The fifty day moving average price for CFLT is $20.9397 and a two-hundred day moving average price translates $26.0914 for the stock.
The latest earnings results from Confluent Inc (NASDAQ: CFLT) was released for 2024-06-30. The net profit margin was -42.70% and return on equity was -45.21% for CFLT. The company reported revenue of $250.2 million for the quarter, compared to $200.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.99 percent.
