Confluent Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Confluent, Inc. (NASDAQ:CFLT) reported Q4 financial results surpassing estimates with revenue of $213.18 million and adjusted earnings of 9 cents per share. Subscription and cloud revenues saw significant increases. The company provided optimistic guidance for Q1 and full-year 2024, expecting continued revenue growth and an adjusted operating margin of approximately flat. Following the report, Confluent shares rose 3.5%. Analysts from Needham and Wells Fargo raised their price targets on Confluent, reflecting positive outlooks.
February 08, 2024 | 1:33 pm
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Confluent reported higher-than-expected Q4 earnings and revenue, with significant growth in subscription and cloud revenues. The company provided positive guidance for Q1 and FY2024, leading to a 3.5% increase in share price. Analysts from Needham and Wells Fargo raised their price targets.
Confluent's better-than-expected Q4 results and optimistic future guidance, coupled with increased price targets from analysts, indicate a strong short-term positive impact on the stock. The significant growth in subscription and cloud revenues, along with the company's leadership in data streaming, contribute to the positive outlook.
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