Confluent (CFLT) Scheduled to Post Quarterly Earnings on Tuesday

Confluent (NASDAQ:CFLT) will be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Confluent to post earnings of $0.02 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. 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 1.6 %

NASDAQ CFLT opened at $28.61 on Monday. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average of $30.43 and a 200-day moving average of $26.26. The company has a market cap of $8.94 billion, a PE ratio of -19.46 and a beta of 0.93.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Needham & Company LLC raised their target price on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Stifel Nicolaus started coverage on Confluent in a research report on Wednesday, February 21st. They set a “buy” rating and a $40.00 price target on the stock. Loop Capital assumed coverage on Confluent in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. Finally, The Goldman Sachs Group lifted their target price on Confluent from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.64.

Insider Buying and Selling

In other news, CTO Chad Verbowski sold 8,086 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the sale, the chief technology officer now directly owns 532,072 shares in the company, valued at approximately $16,600,646.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Confluent news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the completion of the sale, the insider now owns 479,537 shares in the company, valued at approximately $15,225,299.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chad Verbowski sold 8,086 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the transaction, the chief technology officer now directly owns 532,072 shares in the company, valued at $16,600,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,170 shares of company stock valued at $46,438,029 over the last ninety days. 22.08% of the stock is owned by corporate insiders.

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.