Confluent (CFLT) to Release Quarterly Earnings on Wednesday

Confluent (NASDAQ:CFLT) will be announcing its earnings results after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Confluent has set its Q2 guidance at $0.04-0.05 EPS and its FY24 guidance at $0.19-0.20 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Confluent had a negative return on equity of 40.55% and a negative net margin of 46.73%. The firm had revenue of $217.24 million during the quarter, compared to analyst estimates of $211.57 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 Performance

Shares of CFLT opened at $24.58 on Tuesday. The business’s fifty day moving average price is $27.35 and its 200 day moving average price is $28.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07. Confluent has a 12-month low of $14.69 and a 12-month high of $38.19. The stock has a market capitalization of $7.81 billion, a PE ratio of -19.66 and a beta of 0.91.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $26.17, for a total transaction of $6,084,525.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at $11,841,610.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $26.17, for a total transaction of $6,084,525.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $11,841,610.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Stephanie Buscemi sold 3,794 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $31.96, for a total transaction of $121,256.24. Following the completion of the sale, the chief marketing officer now directly owns 165,539 shares of the company’s stock, valued at $5,290,626.44. The disclosure for this sale can be found here. Insiders sold a total of 632,725 shares of company stock valued at $18,138,428 in the last three months. 13.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CFLT has been the topic of a number of research reports. Truist Financial reiterated a “buy” rating and set a $36.00 price target (up from $33.00) on shares of Confluent in a research report on Wednesday, May 8th. TD Cowen raised their target price on Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company boosted their price target on shares of Confluent from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Evercore ISI initiated coverage on shares of Confluent in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Canaccord Genuity Group raised shares of Confluent from a “hold” rating to a “buy” rating and boosted their target price for the company from $28.00 to $35.00 in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.93.

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.