Confluent (CFLT) Scheduled to Post Earnings on Wednesday

Confluent (NASDAQ:CFLT) is set to issue its quarterly earnings data 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 interested in participating in the company’s conference call can do so using this link.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The company had revenue of $217.24 million for the quarter, compared to analyst estimates of $211.57 million. Confluent had a negative return on equity of 40.55% and a negative net margin of 46.73%. 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 stock opened at $24.58 on Tuesday. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -19.66 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07. Confluent has a 52 week low of $14.69 and a 52 week high of $38.19. The company has a 50-day simple moving average of $27.35 and a 200 day simple moving average of $28.55.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CFLT shares. Loop Capital lowered their target price on Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Confluent in a research report on Tuesday, June 11th. Barclays boosted their target price on shares of Confluent from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their price target on shares of Confluent from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Oppenheimer initiated coverage on shares of Confluent in a report on Friday, May 17th. They issued an “outperform” rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and an average target price of $32.93.

Insider Buying and Selling at Confluent

In other news, CAO Ying Christina Liu sold 7,261 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $31.96, for a total value of $232,061.56. Following the completion of the transaction, the chief accounting officer now owns 161,077 shares of the company’s stock, valued at $5,148,020.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Confluent news, CTO Chad Verbowski sold 8,312 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $26.76, for a total value of $222,429.12. Following the completion of the transaction, the chief technology officer now owns 510,347 shares of the company’s stock, valued at approximately $13,656,885.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ying Christina Liu sold 7,261 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $31.96, for a total value of $232,061.56. Following the completion of the transaction, the chief accounting officer now owns 161,077 shares of the company’s stock, valued at $5,148,020.92. The disclosure for this sale can be found here. Insiders have sold a total of 632,725 shares of company stock worth $18,138,428 over the last 90 days. Insiders own 13.82% of the company’s stock.

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.