- Confluent (CFLT, Financial) exceeds Q1 earnings expectations with a non-GAAP EPS of $0.08.
- Revenue surges by 24.8%, driven by strong subscription and cloud growth.
- Analysts are bullish with an average price target indicating a 44.66% upside.
Impressive Quarterly Performance
Confluent (CFLT) has impressed with its first-quarter results, reporting a non-GAAP EPS of $0.08, which surpasses expectations by a margin of $0.01. The company's financial health is underscored by a robust 24.8% increase in revenue, which now stands at $271.1 million. Notably, the company's subscription revenue has risen by 26%, reaching $261 million, while Confluent Cloud revenue has experienced a remarkable 34% climb to $143 million.
Wall Street Analysts Forecast
Analyst sentiment toward Confluent Inc (CFLT, Financial) remains optimistic, with 31 market analysts setting a one-year average price target of $34.44. This includes a high estimate of $42.00 and a low forecast of $24.00, offering a potential upside of 44.66% from its current trading price of $23.81. For more comprehensive estimate data, visit the Confluent Inc (CFLT) Forecast page.
Brokerage Recommendations and GF Value
Confluent Inc's (CFLT, Financial) investment appeal is further bolstered by its consensus "Outperform" rating, as indicated by an average brokerage recommendation of 2.1 from 34 firms. This rating scale ranges from 1 to 5, with 1 representing a "Strong Buy" and 5 indicating a "Sell."
Moreover, GuruFocus estimates the GF Value for Confluent Inc (CFLT, Financial) in the upcoming year to be $43.40. If accurate, this estimate suggests a substantial upside of 82.28% from the current share price of $23.81. The GF Value is a proprietary calculation by GuruFocus, reflecting what the stock should logically trade at, based on historical trading multiples, past business growth, and future performance projections. Investors seeking more detailed data can refer to the Confluent Inc (CFLT) Summary page.
