Confluent, Inc. (NASDAQ:CFLT - Free Report) - Stock analysts at DA Davidson boosted their Q1 2024 earnings per share (EPS) estimates for Confluent in a research note issued to investors on Tuesday, April 2nd. DA Davidson analyst R. Kessinger now anticipates that the company will post earnings per share of ($0.23) for the quarter, up from their prior estimate of ($0.25). DA Davidson has a "Buy" rating and a $37.00 price target on the stock. The consensus estimate for Confluent's current full-year earnings is ($0.92) per share.
Several other equities analysts have also recently commented on the company. Loop Capital started coverage on Confluent in a research report on Tuesday, January 30th. They set a "hold" rating and a $23.00 target price for the company. The Goldman Sachs Group upped their price objective on Confluent from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday, February 8th. Barclays upped their price objective on Confluent from $26.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. JMP Securities boosted their target price on Confluent from $25.00 to $38.00 and gave the company a "market outperform" rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada boosted their target price on Confluent from $35.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.72.
Get Our Latest Stock Analysis on CFLT
Confluent Stock Performance
Shares of NASDAQ CFLT traded down $0.29 during mid-day trading on Thursday, hitting $29.27. The company had a trading volume of 2,712,517 shares, compared to its average volume of 5,287,836. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -19.91 and a beta of 0.91. Confluent has a 1 year low of $14.69 and a 1 year high of $41.22. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The stock's 50-day moving average price is $30.51 and its 200-day moving average price is $26.50.
Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%.
Insider Buying and Selling
In related news, CTO Chad Verbowski sold 8,086 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the transaction, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Confluent news, CTO Chad Verbowski sold 8,086 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the sale, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Stephanie Buscemi sold 2,724 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $87,576.60. Following the completion of the sale, the chief marketing officer now owns 109,002 shares of the company's stock, valued at approximately $3,504,414.30. The disclosure for this sale can be found here. Insiders sold a total of 1,433,170 shares of company stock worth $46,438,029 in the last 90 days. Insiders own 22.08% of the company's stock.
Institutional Trading of Confluent
A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its stake in shares of Confluent by 1.9% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 19,129 shares of the company's stock valued at $448,000 after purchasing an additional 359 shares during the last quarter. Credit Suisse AG increased its position in shares of Confluent by 1.7% during the 2nd quarter. Credit Suisse AG now owns 21,325 shares of the company's stock worth $495,000 after purchasing an additional 362 shares during the last quarter. Avestar Capital LLC increased its position in shares of Confluent by 3.3% during the 3rd quarter. Avestar Capital LLC now owns 11,466 shares of the company's stock worth $340,000 after purchasing an additional 370 shares during the last quarter. Xponance Inc. increased its position in shares of Confluent by 1.7% during the 3rd quarter. Xponance Inc. now owns 26,427 shares of the company's stock worth $783,000 after purchasing an additional 440 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Confluent by 22.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,669 shares of the company's stock worth $94,000 after purchasing an additional 487 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.
Confluent Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Confluent, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Confluent wasn't on the list.
While Confluent currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
