The upcoming report from Confluent (CFLT) is expected to reveal quarterly earnings of $0.07 per share, indicating an increase of 40% compared to the year-ago period. Analysts forecast revenues of $263.57 million, representing an increase of 21.3% year over year.

Over the last 30 days, there has been an upward revision of 0.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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.

That said, let's delve into the average estimates of some Confluent metrics that Wall Street analysts commonly model and monitor.

The collective assessment of analysts points to an estimated 'Revenue- Services' of $10.20 million. The estimate indicates a year-over-year change of -1.3%.

Analysts forecast 'Revenue- Subscription' to reach $252.94 million. The estimate suggests a change of +22.3% year over year.

Analysts predict that the 'Revenue- Confluent Cloud' will reach $141.92 million. The estimate indicates a year-over-year change of +32.6%.

The consensus estimate for 'Remaining performance obligations (RPO)' stands at $984.73 million. The estimate is in contrast to the year-ago figure of $840.20 million.

View all Key Company Metrics for Confluent here>>>

Over the past month, Confluent shares have recorded returns of -0.8% versus the Zacks S&P 500 composite's -4.3% change. Based on its Zacks Rank #3 (Hold), CFLT will likely exhibit a performance that aligns with the overall market in the upcoming period. 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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research