FY2024 Earnings Estimate for Confluent Issued By Scotiabank

Confluent, Inc. (NASDAQ:CFLT - Free Report) - Equities research analysts at Scotiabank issued their FY2024 earnings estimates for Confluent in a research note issued on Wednesday, January 8th. Scotiabank analyst N. Altmann forecasts that the company will post earnings per share of ($0.91) for the year. Scotiabank currently has a "Sector Perform" rating and a $27.00 price objective on the stock. The consensus estimate for Confluent's current full-year earnings is ($0.90) per share. Scotiabank also issued estimates for Confluent's FY2025 earnings at ($0.85) EPS.

A number of other equities analysts have also recently commented on the company. Robert W. Baird lifted their price target on Confluent from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Truist Financial lifted their target price on shares of Confluent from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. TD Cowen raised their price target on shares of Confluent from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. JMP Securities reaffirmed a "market outperform" rating and set a $40.00 price objective on shares of Confluent in a research note on Tuesday, October 29th. Finally, Citigroup raised their target price on Confluent from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.46.

Confluent Stock Down 3.6 %

CFLT opened at $27.64 on Monday. The company has a market cap of $9.07 billion, a P/E ratio of -24.90 and a beta of 0.91. Confluent has a 12 month low of $17.79 and a 12 month high of $35.07. The business's 50-day moving average price is $29.60 and its 200-day moving average price is $24.98. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The company had revenue of $250.20 million for the quarter, compared to analysts' expectations of $243.98 million.

Insider Transactions at Confluent

In other Confluent news, Director Lara Caimi sold 34,500 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $31.32, for a total transaction of $1,080,540.00. Following the transaction, the director now owns 7,160 shares in the company, valued at approximately $224,251.20. This represents a 82.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the sale, the chief accounting officer now owns 179,939 shares of the company's stock, valued at $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,584,712 shares of company stock valued at $132,928,936. Insiders own 13.82% of the company's stock.

Institutional Investors Weigh In On Confluent

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFLT. Diversified Trust Co lifted its holdings in shares of Confluent by 21.5% during the 4th quarter. Diversified Trust Co now owns 73,529 shares of the company's stock valued at $2,056,000 after buying an additional 13,026 shares during the period. GAMMA Investing LLC lifted its holdings in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after acquiring an additional 1,136 shares during the period. Oddo BHF Asset Management Sas purchased a new position in Confluent in the third quarter worth about $7,646,000. Tidal Investments LLC grew its stake in shares of Confluent by 521.0% during the 3rd quarter. Tidal Investments LLC now owns 50,545 shares of the company's stock valued at $1,030,000 after purchasing an additional 42,406 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Confluent by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company's stock valued at $384,000 after purchasing an additional 3,298 shares during the last quarter. Hedge funds and other institutional investors own 78.09% 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.