Wall Street analysts expect Confluent (CFLT) to post quarterly earnings of $0.10 per share in its upcoming report, which indicates a year-over-year increase of 11.1%. Revenues are expected to be $307.29 million, up 17.6% from the year-ago quarter.
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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Confluent metrics that are routinely monitored and predicted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenue- Services' of $10.96 million. The estimate indicates a year-over-year change of +3.5%.
According to the collective judgment of analysts, 'Revenue- Subscription' should come in at $295.97 million. The estimate points to a change of +18.1% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Confluent Cloud' will reach $165.22 million. The estimate indicates a change of +19.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Confluent Platform- License' will likely reach $33.48 million. The estimate indicates a change of +28.4% from the prior-year quarter.
It is projected by analysts that the 'Revenue- Confluent Platform- PCS' will reach $97.51 million. The estimate indicates a change of +12.5% from the prior-year quarter.
The consensus estimate for 'Remaining performance obligations (RPO)' stands at $1.36 billion. The estimate is in contrast to the year-ago figure of $1.01 billion.
View all Key Company Metrics for Confluent here>>>
Confluent shares have witnessed a change of +0.7% in the past month, in contrast to the Zacks S&P 500 composite's -0.2% move. With a Zacks Rank #3 (Hold), CFLT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Confluent, Inc. (CFLT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
