Why Confluent Stock Was Racing Higher This Week
Data streaming company Confluent (NASDAQ: CFLT) was streaming stock market success in recent trading sessions. Following the release of its fourth-quarter and full-year 2024 financial results, investors leaped on the stock; as of early Friday morning its price had risen by almost 21% week to date, according to data compiled by S&P Global Market Intelligence.
Confluent's quarterly performance impressed not only investors, but a swarm of analysts that published bullish updates on the stock.
For the quarter, Confluent's overall revenue leaped 23% higher year over year to top $262 million, although its non-GAAP (adjusted) net income sagged by 3% to land at slightly more than $31 million ($0.09 per share). Both figures were comfortably above the consensus analyst estimates, despite the dip in profitability.
Source Fool.com
