Confluent (NASDAQ:CFLT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

by · The Markets Daily

Confluent (NASDAQ:CFLT – Get Free Report) released its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02, FiscalAI reports. The firm had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative net margin of 27.32% and a negative return on equity of 25.40%.

Confluent Trading Down 0.3%

Shares of CFLT stock traded down $0.08 during trading hours on Wednesday, reaching $30.51. 10,330,243 shares of the stock were exchanged, compared to its average volume of 16,750,938. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 0.98. Confluent has a 12-month low of $15.64 and a 12-month high of $37.90. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of -33.90 and a beta of 0.95. The company’s 50-day moving average price is $29.87 and its 200-day moving average price is $23.98.

Insider Buying and Selling

In related news, Director Neha Narkhede sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $29.77, for a total value of $1,190,800.00. Following the transaction, the director owned 28,549 shares of the company’s stock, valued at $849,903.73. This trade represents a 58.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Ban Ryan Norris Mac sold 44,114 shares of Confluent stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $29.77, for a total value of $1,313,273.78. Following the completion of the sale, the executive owned 336,950 shares of the company’s stock, valued at $10,031,001.50. The trade was a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,357,664 shares of company stock worth $38,315,446 over the last ninety days. Corporate insiders own 13.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFLT. PNC Financial Services Group Inc. boosted its holdings in Confluent by 9.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,938 shares of the company’s stock worth $149,000 after acquiring an additional 432 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Confluent by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 86,477 shares of the company’s stock worth $1,712,000 after purchasing an additional 536 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Confluent during the 4th quarter valued at approximately $36,000. Quarry LP purchased a new position in shares of Confluent in the third quarter worth $26,000. Finally, Rafferty Asset Management LLC lifted its stake in shares of Confluent by 13.7% during the second quarter. Rafferty Asset Management LLC now owns 11,831 shares of the company’s stock worth $295,000 after buying an additional 1,421 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Confluent from $21.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. Citigroup raised their price target on Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 9th. Piper Sandler downgraded Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Monday, December 8th. Finally, William Blair downgraded Confluent from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.78.

View Our Latest Stock Report on CFLT

About Confluent

(Get Free Report)

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.

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