Confluent (CFLT) Projected to Post Earnings on Tuesday

Confluent (NASDAQ:CFLT - Get Free Report) is projected to release its earnings data after the market closes on Tuesday, February 11th. Analysts expect Confluent to post earnings of $0.05 per share and revenue of $256.86 million for the quarter. Parties that are interested in registering for the company's conference call can do so using this link.

Confluent Stock Performance

CFLT stock traded up $0.13 during trading on Friday, reaching $30.02. 6,112,219 shares of the stock were exchanged, compared to its average volume of 3,982,240. Confluent has a twelve month low of $17.79 and a twelve month high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $9.85 billion, a P/E ratio of -27.04 and a beta of 0.92. The stock has a 50 day simple moving average of $29.51 and a 200-day simple moving average of $25.20.

Insiders Place Their Bets

In related news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.29, for a total transaction of $6,809,925.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $13,253,373.52. The trade was a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Erica Schultz sold 63,729 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the completion of the transaction, the insider now directly owns 687,483 shares in the company, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,825,395 shares of company stock valued at $85,343,808. 13.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CFLT has been the topic of several recent research reports. Scotiabank lifted their price objective on Confluent from $25.00 to $27.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. Sanford C. Bernstein decreased their price target on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Citigroup increased their price objective on shares of Confluent from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their target price on shares of Confluent from $33.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Mizuho increased their price target on shares of Confluent from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Confluent presently has an average rating of "Moderate Buy" and an average target price of $32.30.

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.