CFLT Stock Summary and Trading Ideas (Confluent - Class A | NASDAQ:CFLT)

Confluent Inc is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system. Its products include Confluent Platform; Connectors; ksqlDB and others. The company generates revenue from the sale of subscriptions and services. Geographically, it derives a majority of its revenue from the United States. The company provides solutions to Financial Services; Insurance; Retail and eCommerce; Automotive; Government and other sectors.

Confluent - Class A trades on the NASDAQ stock market under the symbol CFLT.

As of November 22, 2024, CFLT stock price climbed to $31.52 with 5,108,398 million shares trading.

CFLT has a beta of 2.03, meaning it tends to be more sensitive to market movements. CFLT has a correlation of 0.17 to the broad based SPY ETF.

CFLT has a market cap of $10.34 billion. This is considered a Large Cap stock.

Last quarter Confluent - Class A reported $250 million in Revenue and $.10 earnings per share. This beat revenue expectation by $5 million and exceeded earnings estimates by $.05.

In the last 3 years, CFLT traded as high as $85.50 and as low as $14.69.

The top ETF exchange traded funds that CFLT belongs to (by Net Assets): VTI, VB, VGT, VXF, SKYY.

CFLT has outperformed the market in the last year with a price return of +64.3% while the SPY ETF gained +32.4%. CFLT has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +48.2% and +18.9%, respectively, while the SPY returned +7.4% and -0.4%, respectively.

CFLT support price is $29.66 and resistance is $31.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CFLT shares will trade within this expected range on the day.