Confluent (CFLT) Set to Announce Quarterly Earnings on Tuesday

Confluent (NASDAQ:CFLT) is set to release 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. Individual interested in participating in the company’s earnings conference call can do so using this link.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 56.99% and a negative return on equity of 44.16%. On average, analysts expect Confluent to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Confluent Price Performance

Shares of CFLT opened at $28.61 on Friday. Confluent has a 52 week low of $14.69 and a 52 week high of $41.22. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of -19.46 and a beta of 0.93. The stock has a 50 day moving average of $30.43 and a 200-day moving average of $26.31.

Insider Activity

In related news, CAO Ying Christina Liu sold 4,109 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Stephanie Buscemi sold 2,724 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $87,576.60. Following the completion of the sale, the chief marketing officer now directly owns 109,002 shares of the company’s stock, valued at $3,504,414.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the transaction, the chief accounting officer now directly owns 123,497 shares in the company, valued at $3,970,428.55. The disclosure for this sale can be found here. Insiders have sold 1,433,170 shares of company stock worth $46,438,029 over the last 90 days. 22.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent research reports. Loop Capital assumed coverage on shares of Confluent in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. Scotiabank increased their price objective on shares of Confluent from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. UBS Group lifted their target price on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Barclays increased their price target on Confluent from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price target on Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.