Confluent (CFLT) to Release Earnings on Monday

Confluent (NASDAQ:CFLT – Get Rating) will announce its earnings results after the market closes on Monday, January 30th. Analysts expect the company to announce earnings of ($0.15) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Confluent (NASDAQ:CFLT – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, meeting the consensus estimate of ($0.40). The business had revenue of $151.73 million for the quarter, compared to the consensus estimate of $144.39 million. Confluent had a negative net margin of 85.83% and a negative return on equity of 55.60%. On average, analysts expect Confluent to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Confluent Stock Performance

NASDAQ CFLT traded down $0.18 on Tuesday, reaching $23.20. 3,427,702 shares of the company’s stock traded hands, compared to its average volume of 2,913,210. Confluent has a fifty-two week low of $16.48 and a fifty-two week high of $81.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -13.89 and a beta of 1.01. The stock has a 50 day moving average price of $21.65 and a 200-day moving average price of $24.44.

Wall Street Analyst Weigh In

CFLT has been the subject of several analyst reports. FBN Securities assumed coverage on Confluent in a report on Tuesday, January 17th. They issued an “outperform” rating and a $30.00 price objective for the company. Truist Financial lowered their price objective on Confluent from $35.00 to $30.00 in a research report on Monday, January 9th. DA Davidson cut their target price on shares of Confluent from $44.00 to $33.00 in a report on Thursday, November 3rd. Barclays raised shares of Confluent from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $27.00 to $24.00 in a report on Tuesday, January 10th. Finally, Piper Sandler decreased their price objective on shares of Confluent from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Insider Buying and Selling

In other Confluent news, SVP Chad Verbowski sold 9,441 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $20.11, for a total value of $189,858.51. Following the transaction, the senior vice president now owns 338,391 shares in the company, valued at approximately $6,805,043.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $23.01, for a total transaction of $3,233,158.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Chad Verbowski sold 9,441 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total value of $189,858.51. Following the completion of the sale, the senior vice president now directly owns 338,391 shares of the company’s stock, valued at approximately $6,805,043.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 829,987 shares of company stock worth $18,552,363. 27.94% of the stock is owned by corporate insiders.

Institutional Trading of Confluent

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Confluent by 15.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,877,130 shares of the company’s stock valued at $258,549,000 after acquiring an additional 1,470,650 shares during the last quarter. BlackRock Inc. boosted its holdings in Confluent by 1.0% in the 3rd quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock valued at $194,656,000 after purchasing an additional 78,339 shares during the last quarter. Durable Capital Partners LP boosted its holdings in Confluent by 6.8% in the 1st quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock valued at $300,496,000 after purchasing an additional 465,214 shares during the last quarter. Altimeter Capital Management LP increased its holdings in shares of Confluent by 79.9% during the 1st quarter. Altimeter Capital Management LP now owns 5,306,700 shares of the company’s stock worth $217,575,000 after buying an additional 2,356,700 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Confluent by 29.3% during the 1st quarter. First Trust Advisors LP now owns 2,208,359 shares of the company’s stock worth $90,543,000 after buying an additional 500,166 shares during the last quarter. 40.66% of the stock is currently owned by hedge funds and other institutional investors.

About Confluent

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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.