Confluent (NASDAQ:CFLT) Issues FY 2022 Earnings Guidance

Confluent (NASDAQ:CFLTGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of -$0.79–$0.73 for the period, compared to the consensus EPS estimate of -$0.75. The company issued revenue guidance of $554.00 million-$560.00 million, compared to the consensus revenue estimate of $546.41 million.Confluent also updated its Q2 2022 guidance to -$0.21–$0.19 EPS.

Several analysts have issued reports on the company. Zacks Investment Research lowered Confluent from a buy rating to a sell rating in a research note on Thursday. DA Davidson raised Confluent from a neutral rating to a buy rating and set a $76.00 target price on the stock in a research report on Tuesday, January 25th. They noted that the move was a valuation call. The Goldman Sachs Group decreased their target price on Confluent from $75.00 to $48.00 and set a neutral rating on the stock in a research report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft decreased their target price on Confluent from $63.00 to $28.00 in a research report on Friday, May 6th. Finally, Barclays decreased their target price on Confluent from $71.00 to $44.00 and set an equal weight rating on the stock in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Confluent currently has an average rating of Hold and an average target price of $58.65.

Shares of NASDAQ:CFLT opened at $21.54 on Monday. The business’s 50 day simple moving average is $34.99 and its 200 day simple moving average is $55.52. The company has a market capitalization of $5.88 billion and a P/E ratio of -11.05. Confluent has a 1 year low of $17.36 and a 1 year high of $94.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.39 and a quick ratio of 6.39.

Confluent (NASDAQ:CFLTGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.23. The firm had revenue of $126.10 million for the quarter, compared to the consensus estimate of $118.49 million. Confluent had a negative return on equity of 41.55% and a negative net margin of 94.12%. The company’s revenue was up 63.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) EPS. On average, sell-side analysts anticipate that Confluent will post -1.6 EPS for the current fiscal year.

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $44.41, for a total value of $10,325,325.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Neha Narkhede sold 27,400 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $58.09, for a total value of $1,591,666.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 774,583 shares of company stock worth $29,211,858 and sold 509,025 shares worth $20,927,268. Company insiders own 27.94% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors bought a new position in shares of Confluent in the 3rd quarter valued at $30,000. Penserra Capital Management LLC lifted its stake in shares of Confluent by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock valued at $78,000 after acquiring an additional 642 shares during the last quarter. Lazard Asset Management LLC bought a new position in Confluent during the 1st quarter worth $205,000. Bank of America Corp DE raised its position in Confluent by 660.0% during the 4th quarter. Bank of America Corp DE now owns 3,215 shares of the company’s stock worth $245,000 after purchasing an additional 2,792 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in Confluent by 8.3% during the 4th quarter. CIBC World Markets Inc. now owns 4,168 shares of the company’s stock worth $318,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 37.20% of the company’s stock.

Confluent Company Profile (Get Rating)

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.

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