Confluent saw its IBD SmartSelect Composite Rating jump to 96 Wednesday, up from 94 the day before.
The new score means the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria.
Confluent broke out earlier, but is now about -4% below the prior 29.72 entry from a cup without handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point.
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The stock has an 81 EPS Rating, which means 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.
The company reported 400% EPS growth for Q3. Sales growth climbed 25%, up from 24% in the prior report. That marks one quarter of accelerating revenue gains.
Confluent earns the No. 4 rank among its peers in the Computer Software-Database industry group. Commvault Systems is the No. 1-ranked stock within the group.
