Confluent climbs on upbeat fourth quarter forecast

Shares of data streaming software maker Confluent CFLT.O jump 10.1% to $24.30 premarket

Co sees Q4 subscription revenue of $295.5-$296.5 mln, above estimates of $293.3 mln - LSEG-compiled data

Expects FY2025 adj EPS of 39-40 cents, compared to analysts' expectation of 39 cents - LSEG-compiled data

Reports Q3 revenue of $298.5 mln, topping analysts' estimate of $292.8 mln

Posts Q3 adj EPS of 13 cents, beating expectations of 10 cents

Q3 Confluent Cloud revenue increased 24% yr/yr to $161 mln

23 of 33 brokerages covering the stock recommend a rating of "buy" or higher, 9 recommend hold, while 1 recommends "sell"; stock has a median PT of $27.00 - LSEG

Up to last close, stock has fallen 21% YTD