FY2024 EPS Estimates for Confluent Raised by DA Davidson

Confluent, Inc. (NASDAQ:CFLT - Free Report) - DA Davidson boosted their FY2024 earnings per share (EPS) estimates for Confluent in a research report issued to clients and investors on Thursday, October 31st. DA Davidson analyst R. Kessinger now expects that the company will post earnings per share of ($0.90) for the year, up from their previous forecast of ($0.95). DA Davidson has a "Buy" rating and a $30.00 price target on the stock. The consensus estimate for Confluent's current full-year earnings is ($0.95) per share. DA Davidson also issued estimates for Confluent's FY2025 earnings at ($0.77) EPS.

Several other brokerages have also commented on CFLT. UBS Group raised their price objective on Confluent from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday. TD Cowen raised their price objective on Confluent from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday. Scotiabank lifted their price target on Confluent from $25.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.74.

Confluent Price Performance

CFLT traded up $0.41 during trading on Monday, hitting $26.63. The company's stock had a trading volume of 4,073,415 shares, compared to its average volume of 4,353,653. The company has a current ratio of 4.24, a quick ratio of 4.44 and a debt-to-equity ratio of 1.17. Confluent has a twelve month low of $16.69 and a twelve month high of $35.07. The business's fifty day simple moving average is $21.14 and its 200 day simple moving average is $24.62. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of -23.99 and a beta of 0.81.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFLT. V Square Quantitative Management LLC acquired a new position in shares of Confluent during the 2nd quarter worth about $68,000. UniSuper Management Pty Ltd boosted its position in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company's stock worth $82,000 after acquiring an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company's stock worth $91,000 after acquiring an additional 859 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company's stock worth $175,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Confluent during the 2nd quarter worth about $175,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $9,045,235.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Stephanie Buscemi sold 3,866 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 value of $83,814.88. Following the transaction, the chief marketing officer now directly owns 161,673 shares of the company's stock, valued at $3,505,070.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,453 shares of company stock worth $10,833,388 over the last quarter. 13.82% of the stock is currently owned by company insiders.

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.