Confluent (NASDAQ:CFLT) Releases Q2 Earnings Guidance

Confluent (NASDAQ:CFLT) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.04-0.05 for the period, compared to the consensus earnings per share estimate of $0.04. The company issued revenue guidance of $229-230 million, compared to the consensus revenue estimate of $228.71 million. Confluent also updated its FY24 guidance to $0.19-0.20 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CFLT shares. JMP Securities raised their price objective on Confluent from $38.00 to $40.00 and gave the stock a market outperform rating in a report on Wednesday. Truist Financial reissued a buy rating and issued a $36.00 price target (up from $33.00) on shares of Confluent in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Confluent from $23.00 to $27.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Guggenheim raised their target price on shares of Confluent from $35.00 to $37.00 and gave the stock a buy rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their target price on shares of Confluent from $27.00 to $30.00 and gave the company a neutral rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Confluent presently has a consensus rating of Moderate Buy and a consensus price target of $32.88.

Confluent Stock Down 1.1 %

NASDAQ CFLT traded down $0.35 on Thursday, reaching $31.03. The company had a trading volume of 5,095,206 shares, compared to its average volume of 4,856,223. 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 1 year low of $14.69 and a 1 year high of $41.22. The firm has a 50-day moving average of $30.20 and a 200-day moving average of $26.28. The firm has a market capitalization of $9.70 billion, a PE ratio of -21.35 and a beta of 0.93.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. On average, equities research analysts anticipate that Confluent will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the transaction, the chief accounting officer now owns 123,497 shares in the company, valued at $3,970,428.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Ying Christina Liu sold 4,109 shares of Confluent stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the sale, the chief accounting officer now owns 123,497 shares in the company, valued at $3,970,428.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the transaction, the insider now owns 479,537 shares in the company, valued at $15,225,299.75. The disclosure for this sale can be found here. Insiders have sold 1,433,170 shares of company stock valued at $46,438,029 in the last quarter. Company insiders own 13.82% 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.