Q4 Earnings Forecast for Confluent Issued By DA Davidson

Confluent, Inc. (NASDAQ:CFLT) – Research analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for shares of Confluent in a research report issued to clients and investors on Thursday, October 31st. DA Davidson analyst R. Kessinger forecasts that the company will post earnings of ($0.24) per share for the quarter. DA Davidson currently has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Confluent’s current full-year earnings is ($0.95) per share.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird boosted their price objective on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup upped their price target on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. UBS Group lifted their price target on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday. Mizuho raised their target price on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Piper Sandler decreased their price target on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Confluent has an average rating of “Moderate Buy” and an average price target of $30.39.

Confluent Trading Up 0.2 %

CFLT opened at $26.22 on Friday. The company’s 50 day moving average is $21.04 and its 200-day moving average is $24.64. The company has a market cap of $8.46 billion, a P/E ratio of -23.62 and a beta of 0.88. Confluent has a 1-year low of $14.69 and a 1-year high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%.

Insider Activity

In other Confluent news, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the sale, the director now directly owns 7,160 shares in the company, valued at $143,271.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Confluent news, CTO Chad Verbowski sold 13,540 shares of Confluent stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $293,547.20. Following the transaction, the chief technology officer now directly owns 496,807 shares of the company’s stock, valued at approximately $10,770,775.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lara Caimi sold 9,375 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the transaction, the director now owns 7,160 shares in the company, valued at approximately $143,271.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 524,453 shares of company stock worth $10,833,388. 13.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Confluent

Several institutional investors and hedge funds have recently made changes to their positions in CFLT. Assetmark Inc. lifted its stake in Confluent by 75,257.1% during the 3rd quarter. Assetmark Inc. now owns 36,925 shares of the company’s stock valued at $753,000 after acquiring an additional 36,876 shares during the period. SpiderRock Advisors LLC increased its stake in shares of Confluent by 323.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock valued at $5,381,000 after purchasing an additional 201,721 shares in the last quarter. Fiera Capital Corp acquired a new position in Confluent in the 3rd quarter worth about $21,127,000. Janney Capital Management LLC boosted its stake in shares of Confluent by 52.2% in the third quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock worth $406,000 after acquiring an additional 6,842 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Confluent by 307.7% during the third quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after buying an additional 12,605 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.