Stocks of Confluent Inc (NASDAQ:CFLT) traded higher last session on Wall Street, up 1.58% to $27.56.
CFLT stock price is now 28.14% away from the 50-day moving average and 5.16% away from the 200-day moving average. The market capitalization of the company currently stands at $9.04B.
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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, SEQUOIA CAPITAL FUND PARALLEL,, Officer bought 144,080 shares of the company’s stock on Nov 07 ’24. The stock was bought for $3,963,929 at an average price of $27.51. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07 ’24, Director SEQUOIA CAPITAL FUND, LP bought 923,162 shares of the business’s stock. A total of $25,398,033 was incurred on buying the stock at an average price of $27.51. A total of 24.83% of the company’s stock is owned by insiders.
During the past 12 months, Confluent Inc has had a low of $16.69 and a high of $35.07. As of last week, the company has a debt-to-equity ratio of 1.19, a current ratio of 4.15, and a quick ratio of 4.15. The fifty day moving average price for CFLT is $21.3651 and a two-hundred day moving average price translates $26.1824 for the stock.
The latest earnings results from Confluent Inc (NASDAQ: CFLT) was released for 2024-09-30. The net profit margin was -38.35% and return on equity was -40.75% 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.
