Confluent (CFLT) Set to Announce Quarterly Earnings on Wednesday

Confluent (NASDAQ:CFLT) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce 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.Persons interested in registering for the company’s earnings conference call can do so using this link.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate 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 firm 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 Trading Up 3.3 %

Shares of NASDAQ CFLT opened at $22.53 on Monday. The stock has a fifty day simple moving average of $20.78 and a 200-day simple moving average of $24.78. Confluent has a twelve month low of $14.69 and a twelve month high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $7.16 billion, a PE ratio of -18.02 and a beta of 0.88.

Insider Activity

In related news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at $9,561,071.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Confluent news, 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 value of $4,912,725.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,561,071.44. The trade was 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 this hyperlink. Also, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the sale, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 524,453 shares of company stock valued at $10,833,388. 13.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CFLT. Canaccord Genuity Group cut their price target on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of Confluent in a report on Tuesday, September 24th. Sanford C. Bernstein dropped their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday. DA Davidson reaffirmed a “buy” rating and set a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Confluent in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.79.

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.