Confluent (NASDAQ:CFLT) Issues Q4 2024 Earnings Guidance

Confluent (NASDAQ:CFLT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.050-0.050 for the period, compared to the consensus earnings per share estimate of 0.050. The company issued revenue guidance of -. Confluent also updated its FY 2024 guidance to 0.250-0.250 EPS.

Confluent Stock Up 0.2 %

Shares of NASDAQ:CFLT traded up $0.04 during mid-day trading on Wednesday, reaching $23.07. 4,997,841 shares of the stock were exchanged, compared to its average volume of 4,297,958. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25. Confluent has a one year low of $14.69 and a one year high of $35.07. The company has a market cap of $7.33 billion, a P/E ratio of -18.46 and a beta of 0.88. The stock’s 50 day simple moving average is $20.82 and its 200-day simple moving average is $24.69.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The firm had revenue of $234.99 million during the quarter, compared to the consensus estimate of $229.49 million. As a group, equities research analysts predict that Confluent will post -0.95 EPS for the current year.

Analyst Ratings Changes

CFLT has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Confluent in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and set a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. Finally, Citigroup upped their target price on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.69.

Insiders Place Their Bets

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Confluent news, insider Erica Schultz sold 9,556 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $207,174.08. Following the transaction, the insider now owns 687,483 shares in the company, valued at approximately $14,904,631.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock worth $10,833,388 over the last 90 days. 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.