Confluent (CFLT) Set to Announce Earnings on Wednesday

Confluent (NASDAQ:CFLT - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Wednesday, July 31st. Analysts expect Confluent to post 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.Individual that wish to register for the company's earnings conference call can do so using this link.

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Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly 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). Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. The business had revenue of $217.24 million during the quarter, compared to the consensus estimate of $211.57 million. 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

Confluent stock opened at $25.38 on Wednesday. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of -20.30 and a beta of 0.91. Confluent has a 12-month low of $14.69 and a 12-month high of $38.19. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.29. The stock has a 50-day simple moving average of $27.92 and a 200 day simple moving average of $28.48.

Insider Transactions at Confluent

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In other news, CMO Stephanie Buscemi sold 3,794 shares of the company's stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $31.96, for a total transaction of $121,256.24. Following the sale, the chief marketing officer now owns 165,539 shares in the company, valued at approximately $5,290,626.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Ying Christina Liu sold 68,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $31.06, for a total value of $2,112,080.00. Following the sale, the chief accounting officer now owns 168,338 shares in the company, valued at approximately $5,228,578.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Stephanie Buscemi sold 3,794 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $31.96, for a total value of $121,256.24. Following the completion of the sale, the chief marketing officer now owns 165,539 shares in the company, valued at approximately $5,290,626.44. 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 in the last 90 days. Corporate insiders own 13.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CFLT. Needham & Company LLC reissued a "buy" rating and set a $38.00 price objective on shares of Confluent in a report on Tuesday, June 11th. DA Davidson reiterated a "buy" rating and issued a $37.00 price objective on shares of Confluent in a research report on Monday, April 1st. Loop Capital decreased their price objective on Confluent from $30.00 to $25.00 and set a "hold" rating for the company in a research report on Friday, July 19th. Canaccord Genuity Group upgraded Confluent from a "hold" rating to a "buy" rating and boosted their price objective for the company from $28.00 to $35.00 in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company boosted their price objective on Confluent from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Confluent has an average rating of "Moderate Buy" and a consensus target price of $32.93.

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View Our Latest Report on CFLT

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.

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