Q4 Earnings Estimate for Confluent Issued By DA Davidson

Confluent, Inc. (NASDAQ:CFLT) – Investment analysts at DA Davidson issued their Q4 2024 earnings per share estimates for shares of Confluent in a report issued on Thursday, October 31st. DA Davidson analyst R. Kessinger forecasts that the company will post earnings per share of ($0.24) for the quarter. DA Davidson has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Confluent’s current full-year earnings is ($0.95) per share.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million.

Several other analysts also recently commented on CFLT. Robert W. Baird upped their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday. Wolfe Research raised Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Piper Sandler decreased their price objective on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Scotiabank raised their target price on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Wells Fargo & Company reduced their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.28.

Confluent Price Performance

NASDAQ CFLT opened at $26.22 on Friday. The stock’s fifty day moving average price is $21.04 and its 200 day moving average price is $24.67. Confluent has a 1 year low of $14.69 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -23.62 and a beta of 0.88.

Insider Buying and Selling

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at $9,045,235.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,045,235.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lara Caimi sold 9,375 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the completion of the transaction, the director now owns 7,160 shares in the company, valued at approximately $143,271.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 524,453 shares of company stock valued at $10,833,388. Corporate insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new position in Confluent during the 1st quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in Confluent in the second quarter valued at about $68,000. UniSuper Management Pty Ltd increased its holdings in Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.