Clearwater Analytics (CWAN Quick QuoteCWAN - Free Report) reported $94.66 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 23.7%. EPS of $0.09 for the same period compares to $0.06 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $92.06 million, representing a surprise of +2.83%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.08.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Clearwater Analytics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Total ARR: $362.40 million versus $369.43 million estimated by three analysts on average.
• Net revenue retention rate: 108% compared to the 103.5% average estimate based on two analysts.
• Number of Clients: 1,200 versus the two-analyst average estimate of 1,346.

View all Key Company Metrics for Clearwater Analytics here>>>

Shares of Clearwater Analytics have returned +12.7% over the past month versus the Zacks S&P 500 composite's +8.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.