In its upcoming report, Confluent (CFLT) is predicted by Wall Street analysts to post quarterly earnings of $0.10 per share, reflecting no change compared to the same period last year. Revenues are forecasted to be $292.05 million, representing a year-over-year increase of 16.7%.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Confluent metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenue- Services' will likely reach $10.40 million. The estimate indicates a year-over-year change of +0.5%.
The consensus among analysts is that 'Revenue- Subscription' will reach $281.42 million. The estimate suggests a change of +17.3% year over year.
Analysts forecast 'Revenue- Confluent Cloud' to reach $157.67 million. The estimate points to a change of +21.5% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Confluent Platform- License' at $30.59 million. The estimate points to a change of +22.5% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Confluent Platform- PCS' should come in at $93.11 million. The estimate suggests a change of +9.4% year over year.
It is projected by analysts that the 'Remaining performance obligations (RPO)' will reach $1.21 billion. The estimate is in contrast to the year-ago figure of $883.00 million.
View all Key Company Metrics for Confluent here>>>
Shares of Confluent have demonstrated returns of +14.4% over the past month compared to the Zacks S&P 500 composite's +1.1% change. With a Zacks Rank #3 (Hold), CFLT is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Confluent, Inc. (CFLT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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