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Confluent (CFLT) Surges 7.6%: Is This an Indication of Further Gains?
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Confluent (CFLT - Free Report) shares ended the last trading session 7.6% higher at $20.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% gain over the past four weeks.
The rise in share prices is attributable to the company's solid number of customer additions, solid earnings and revenue performance and raised full year guidance.
This data infrastructure software maker is expected to post quarterly loss of $0.19 per share in its upcoming report, which represents a year-over-year change of +38.7%. Revenues are expected to be $131.31 million, up 48.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Confluent, the consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CFLT going forward to see if this recent jump can turn into more strength down the road.
Confluent is part of the Zacks Technology Services industry. Inspired Entertainment (INSE - Free Report) , another stock in the same industry, closed the last trading session 5% higher at $9.96. INSE has returned -9.2% in the past month.
Inspired Entertainment's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. Compared to the company's year-ago EPS, this represents a change of +109.5%. Inspired Entertainment currently boasts a Zacks Rank of #2 (Buy).
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Confluent (CFLT) Surges 7.6%: Is This an Indication of Further Gains?
Confluent (CFLT - Free Report) shares ended the last trading session 7.6% higher at $20.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% gain over the past four weeks.
The rise in share prices is attributable to the company's solid number of customer additions, solid earnings and revenue performance and raised full year guidance.
This data infrastructure software maker is expected to post quarterly loss of $0.19 per share in its upcoming report, which represents a year-over-year change of +38.7%. Revenues are expected to be $131.31 million, up 48.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Confluent, the consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CFLT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Confluent is part of the Zacks Technology Services industry. Inspired Entertainment (INSE - Free Report) , another stock in the same industry, closed the last trading session 5% higher at $9.96. INSE has returned -9.2% in the past month.
Inspired Entertainment's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. Compared to the company's year-ago EPS, this represents a change of +109.5%. Inspired Entertainment currently boasts a Zacks Rank of #2 (Buy).