What is DA Davidson’s Forecast for Confluent Q4 Earnings?

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

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus lowered their price objective on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Loop Capital dropped their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Truist Financial restated a “buy” rating and issued a $30.00 price target (down from $36.00) on shares of Confluent in a research report on Thursday, August 1st. TD Cowen raised their price objective on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company cut their target price on shares of Confluent from $38.00 to $34.00 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-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.28.

Confluent Stock Up 0.2 %

CFLT opened at $26.22 on Friday. Confluent has a 1-year low of $14.69 and a 1-year high of $35.07. The business has a 50 day moving average of $21.04 and a 200-day moving average of $24.67. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of -23.62 and a beta of 0.88. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.97%.

Hedge Funds Weigh In On Confluent

Hedge funds and other institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its stake in Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock valued at $369,000 after purchasing an additional 800 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Confluent by 8.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after buying an additional 857 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Confluent in the 1st quarter valued at about $26,000. Finally, Resolute Advisors LLC grew its position in Confluent by 11.1% in the first quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock worth $265,000 after acquiring an additional 869 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,561,071.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Erica Schultz sold 9,556 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $207,174.08. Following the completion of the transaction, the insider now directly owns 687,483 shares in the company, valued at approximately $14,904,631.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,561,071.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock worth $10,833,388 in the last three months. Insiders own 13.82% of the company’s stock.

Confluent Company Profile

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.