Confluent (NASDAQ:CFLT) Issues FY 2022 Earnings Guidance

Posted by on May 23rd, 2022

Confluent (NASDAQ:CFLT – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of -$0.79–$0.73 for the period, compared to the consensus EPS estimate of -$0.75. The company issued revenue guidance of $554.00 million-$560.00 million, compared to the consensus revenue estimate of $546.41 million.Confluent also updated its Q2 2022 guidance to -$0.21–$0.19 EPS.

CFLT stock opened at $18.91 on Monday. The company’s 50 day simple moving average is $33.58 and its 200-day simple moving average is $53.62. The firm has a market capitalization of $5.26 billion and a PE ratio of -9.70. Confluent has a 12 month low of $17.15 and a 12 month high of $94.97. The company has a debt-to-equity ratio of 1.29, a current ratio of 6.64 and a quick ratio of 6.39.

Confluent (NASDAQ:CFLT – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.23. The business had revenue of $126.10 million for the quarter, compared to analyst estimates of $118.49 million. Confluent had a negative net margin of 94.12% and a negative return on equity of 42.75%. The company’s quarterly revenue was up 63.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) earnings per share. As a group, sell-side analysts anticipate that Confluent will post -1.6 earnings per share for the current year.

Several analysts have recently commented on CFLT shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Confluent from $63.00 to $28.00 in a research report on Friday, May 6th. Credit Suisse Group lowered their price target on shares of Confluent from $100.00 to $80.00 in a research report on Friday, May 6th. Barclays decreased their target price on shares of Confluent from $71.00 to $44.00 and set an equal weight rating on the stock in a research report on Tuesday, April 19th. DA Davidson upgraded shares of Confluent from a neutral rating to a buy rating and set a $76.00 target price on the stock in a research report on Tuesday, January 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Company decreased their target price on shares of Confluent from $45.00 to $35.00 and set an overweight rating on the stock in a research report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Confluent has an average rating of Hold and a consensus target price of $57.40.

In other Confluent news, major shareholder Brad Gerstner bought 25,000 shares of the stock in a transaction that occurred on Wednesday, April 13th. The shares were purchased at an average cost of $40.45 per share, for a total transaction of $1,011,250.00. Following the transaction, the insider now directly owns 5,795,900 shares in the company, valued at $234,444,155. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $44.41, for a total value of $10,325,325.00. The disclosure for this sale can be found here. In the last three months, insiders purchased 873,083 shares of company stock valued at $31,209,438 and sold 507,480 shares valued at $19,808,231. Corporate insiders own 27.94% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CFLT. CIBC World Markets Inc. boosted its stake in shares of Confluent by 8.3% during the 4th quarter. CIBC World Markets Inc. now owns 4,168 shares of the company’s stock worth $318,000 after acquiring an additional 319 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Confluent by 1.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,344 shares of the company’s stock worth $1,551,000 after acquiring an additional 355 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Confluent during the 3rd quarter worth $30,000. Penserra Capital Management LLC boosted its stake in shares of Confluent by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock worth $78,000 after acquiring an additional 642 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in shares of Confluent during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 37.20% of the company’s stock.

About Confluent (Get Rating)

Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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