Confluent (CFLT) Set to Announce Quarterly Earnings on Tuesday

Confluent (NASDAQ:CFLT) is scheduled 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 registering for the company’s earnings conference call can do so using this link.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $213.18 million during the quarter, compared to analysts’ expectations of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. 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

NASDAQ:CFLT opened at $28.86 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62. The company has a 50 day moving average price of $30.82 and a 200-day moving average price of $26.31. Confluent has a 1-year low of $14.69 and a 1-year high of $41.22. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -19.63 and a beta of 0.91.

Insider Buying and Selling at Confluent

In other Confluent news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.91, for a total transaction of $2,161,050.39. Following the completion of the sale, the insider now directly owns 706,715 shares in the company, valued at $23,964,705.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Confluent news, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.91, for a total transaction of $2,161,050.39. Following the transaction, the insider now directly owns 706,715 shares in the company, valued at $23,964,705.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.65, for a total value of $7,823,625.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $15,226,221.20. The disclosure for this sale can be found here. Insiders have sold 1,433,170 shares of company stock valued at $46,438,029 over the last 90 days. 22.08% of the stock is owned by insiders.

Analyst Ratings Changes

CFLT has been the subject of a number of recent analyst reports. Mizuho cut their price objective on shares of Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a report on Monday, April 15th. JMP Securities upped their price target on Confluent from $25.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, February 8th. Royal Bank of Canada raised their price objective on Confluent from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. upped their target price on Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Loop Capital started coverage on shares of Confluent in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and a consensus price target 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.