DA Davidson Equities Analysts Raise Earnings Estimates for Confluent, Inc. (NASDAQ:CFLT)

Confluent, Inc. (NASDAQ:CFLT) – Investment analysts at DA Davidson lifted their FY2025 earnings per share (EPS) estimates for shares of Confluent in a report issued on Thursday, August 1st. DA Davidson analyst R. Kessinger now expects that the company will earn ($0.81) per share for the year, up from their prior forecast of ($0.91). DA Davidson currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Confluent’s current full-year earnings is ($0.94) per share.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). The company had revenue of $217.24 million during the quarter, compared to analyst estimates of $211.57 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 38.46%.

A number of other research analysts also recently commented on CFLT. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Confluent in a research note on Tuesday, July 30th. Canaccord Genuity Group upgraded Confluent from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, May 8th. JMP Securities lifted their target price on shares of Confluent from $38.00 to $40.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group increased their price target on shares of Confluent from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Finally, Piper Sandler reduced their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $31.04.

Confluent Trading Up 0.4 %

Confluent stock opened at $18.75 on Monday. Confluent has a 12 month low of $14.69 and a 12 month high of $35.47. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.29. The stock has a market cap of $5.96 billion, a P/E ratio of -15.00 and a beta of 0.91. The company’s fifty day simple moving average is $26.19 and its 200-day simple moving average is $28.50.

Institutional Investors Weigh In On Confluent

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Confluent by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after buying an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Confluent by 17.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after purchasing an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Confluent in the 1st quarter worth about $181,075,000. Coatue Management LLC acquired a new stake in shares of Confluent during the 4th quarter worth about $134,132,000. Finally, First Trust Advisors LP lifted its holdings in Confluent by 15.3% during the 4th quarter. First Trust Advisors LP now owns 5,551,696 shares of the company’s stock valued at $129,910,000 after purchasing an additional 738,147 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

Insider Activity at Confluent

In other Confluent news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $31.00, for a total value of $1,975,599.00. Following the completion of the sale, the insider now owns 706,715 shares in the company, valued at approximately $21,908,165. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Ying Christina Liu sold 68,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $31.06, for a total value of $2,112,080.00. Following the sale, the chief accounting officer now owns 168,338 shares of the company’s stock, valued at $5,228,578.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $31.00, for a total transaction of $1,975,599.00. Following the transaction, the insider now owns 706,715 shares of the company’s stock, valued at approximately $21,908,165. The disclosure for this sale can be found here. Insiders have sold 632,725 shares of company stock worth $18,138,428 over the last three months. Company insiders own 13.82% of the company’s stock.

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.