In its upcoming report, Confluent (CFLT) is predicted by Wall Street analysts to post quarterly earnings of $0.05 per share, reflecting a decline of 44.4% compared to the same period last year. Revenues are forecasted to be $256.83 million, representing a year-over-year increase of 20.5%.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

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 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.

Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $10.66 million. The estimate indicates a year-over-year change of +2.5%.

The collective assessment of analysts points to an estimated 'Revenue- Subscription' of $245.54 million. The estimate indicates a year-over-year change of +21.1%.

The average prediction of analysts places 'Revenue- Confluent Cloud' at $135.68 million. The estimate indicates a change of +35.7% from the prior-year quarter.

The combined assessment of analysts suggests that 'Remaining performance obligations (RPO)' will likely reach $962.31 million. Compared to the current estimate, the company reported $919.90 million in the same quarter of the previous year.

View all Key Company Metrics for Confluent here>>>

Shares of Confluent have demonstrated returns of +2.5% over the past month compared to the Zacks S&P 500 composite's +2.1% change. With a Zacks Rank #4 (Sell), CFLT is expected to lag the overall market performance in the near future. 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

To read this article on Zacks.com click here.

Zacks Investment Research