On Thursday, Confluent (CFLT) stock got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96.
↑ XThe upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The market's biggest winners often have a 95 or higher score in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Confluent broke out earlier, but is now trading about -4% below the prior 29.72 entry from a cup without handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form.
Looking For Winning Stocks? How To Invest In Both Bull And Bear Markets
The tech stock earns an 81 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 81% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
Get these newsletters delivered to your inbox & more info about our products & services. Privacy Policy & Terms of Use
The computer database company posted a 400% earnings-per-share gain for Q3. Sales growth increased 25%, up from 24% in the prior report. That marks one quarter of increasing revenue gains.
Confluent stock earns the No. 2 rank among its peers in the Computer Software-Database industry group. Commvault Systems (CVLT) is the No. 1-ranked stock within the group.
YOU MAY ALSO LIKE:
MarketSurge's Tools Can Help The Individual Investor
IBD Live: A New Tool For Daily Stock Market Analysis
Profit From Short-Term Trends With SwingTrader
How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.