Q4 Earnings Forecast for Confluent Issued By DA Davidson

Confluent, Inc. (NASDAQ:CFLT - Free Report) - Investment analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for shares of Confluent in a research report issued to clients and investors on Thursday, October 31st. DA Davidson analyst R. Kessinger expects that the company will earn ($0.24) per share for the quarter. DA Davidson currently has a "Buy" rating and a $30.00 price objective on the stock. The consensus estimate for Confluent's current full-year earnings is ($0.95) per share.

A number of other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Confluent from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. Barclays lifted their price objective on Confluent from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday. Truist Financial restated a "buy" rating and set a $30.00 price target (down from $36.00) on shares of Confluent in a report on Thursday, August 1st. Robert W. Baird upped their price target on shares of Confluent from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Mizuho lifted their target price on shares of Confluent from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and an average price target of $30.28.

Confluent Stock Up 0.2 %

Shares of NASDAQ:CFLT traded up $0.05 during midday trading on Friday, reaching $26.22. The company's stock had a trading volume of 6,430,211 shares, compared to its average volume of 4,354,964. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average of $21.04 and a 200-day moving average of $24.67. The firm has a market capitalization of $8.46 billion, a P/E ratio of -23.62 and a beta of 0.88. Confluent has a 12-month low of $14.69 and a 12-month high of $35.07.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to analysts' expectations of $243.98 million. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at $9,045,235.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $9,045,235.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rohan Sivaram sold 22,926 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $497,035.68. Following the completion of the sale, the chief financial officer now owns 555,337 shares in the company, valued at $12,039,706.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 524,453 shares of company stock worth $10,833,388. 13.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CFLT. William Blair Investment Management LLC purchased a new stake in Confluent during the second quarter valued at approximately $193,403,000. 1832 Asset Management L.P. purchased a new stake in Confluent during the 1st quarter valued at $181,075,000. Champlain Investment Partners LLC bought a new stake in Confluent in the first quarter worth $144,563,000. Price T Rowe Associates Inc. MD boosted its stake in Confluent by 17.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company's stock worth $536,601,000 after buying an additional 2,587,169 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company's stock valued at $103,665,000 after acquiring an additional 1,316,804 shares during the last quarter. 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.