Why Confluent Inc Stock Is Crashing
Portfolio Pulse from Erica Kollmann
Confluent, Inc. (NASDAQ:CFLT) reported Q3 financial results, with a loss of 30 cents per share, up from a loss of 41 cents per share YoY, and revenue of $200 million, beating the consensus estimate of $195.419 million. However, the company lowered its Q4 revenue estimate to between $204 and $205 million, down from the previous $212.6 million estimate. Following the announcement, several analysts updated their ratings and price targets on Confluent, leading to a drop in CFLT shares.
November 02, 2023 | 3:51 pm
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Confluent's Q3 results beat estimates, but the company's lowered Q4 revenue forecast has led to a drop in its share price. Analysts have updated their ratings and price targets for the stock.
Confluent's Q3 results were better than expected, but the company's lowered Q4 revenue forecast has negatively impacted investor sentiment, leading to a drop in its share price. This is further compounded by analysts updating their ratings and price targets for the stock, indicating a bearish outlook.
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