Confluent (CFLT) to Release Earnings on Tuesday

Confluent (NASDAQ:CFLT) will be releasing its earnings data after the market closes on Tuesday, May 7th. Analysts expect Confluent to post earnings of $0.02 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. The company had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. On average, analysts expect Confluent to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Confluent Trading Up 1.6 %

NASDAQ CFLT opened at $28.61 on Monday. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of -19.46 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22. The company’s fifty day moving average price is $30.43 and its two-hundred day moving average price is $26.26.

Insider Buying and Selling

In other Confluent news, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.91, for a total value of $2,161,050.39. Following the completion of the sale, the insider now directly owns 706,715 shares of the company’s stock, valued at approximately $23,964,705.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Confluent news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $33.91, for a total value of $2,161,050.39. Following the transaction, the insider now owns 706,715 shares in the company, valued at $23,964,705.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Chad Verbowski sold 8,086 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the sale, the chief technology officer now owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,170 shares of company stock valued at $46,438,029 over the last three months. Company insiders own 22.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Confluent from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. UBS Group boosted their price target on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Royal Bank of Canada raised their price objective on Confluent from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Scotiabank boosted their target price on shares of Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus assumed coverage on shares of Confluent in a research report on Wednesday, February 21st. They issued a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.64.

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.