Confluent (CFLT) to Release Quarterly Earnings on Wednesday

Confluent (NASDAQ:CFLT) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Confluent to post earnings of $0.05 per share for the quarter. Confluent has set its FY 2024 guidance at 0.200-0.200 EPS and its Q3 2024 guidance at 0.050-0.050 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The business had revenue of $234.99 million for the quarter, compared to analysts’ expectations of $229.49 million. On average, analysts expect Confluent to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Confluent Stock Up 3.3 %

Confluent stock opened at $22.53 on Monday. The stock’s 50 day moving average price is $20.78 and its 200 day moving average price is $24.78. The company has a market cap of $7.16 billion, a PE ratio of -18.02 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. Confluent has a 1-year low of $14.69 and a 1-year high of $35.07.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of research analyst reports. Evercore ISI cut their price target on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Loop Capital dropped their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, July 19th. Robert W. Baird assumed coverage on Confluent in a research note on Wednesday, September 4th. They set a “neutral” rating and a $23.00 price target on the stock. Mizuho lowered their price target on Confluent from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price objective on Confluent from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.79.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,561,071.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Chad Verbowski sold 13,540 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $293,547.20. Following the completion of the transaction, the chief technology officer now owns 496,807 shares of the company’s stock, valued at approximately $10,770,775.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,561,071.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 524,453 shares of company stock worth $10,833,388 over the last quarter. 13.82% of the stock is currently owned by insiders.

About Confluent

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.