Analysts Anticipate Commvault Systems, Inc. (NASDAQ:CVLT) Will Announce Quarterly Sales of $184.73 Million

Wall Street brokerages expect Commvault Systems, Inc. (NASDAQ:CVLT) to announce $184.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Commvault Systems’ earnings, with estimates ranging from $184.50 million to $185.00 million. Commvault Systems posted sales of $171.14 million during the same quarter last year, which suggests a positive year over year growth rate of 7.9%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, October 26th.

On average, analysts expect that Commvault Systems will report full year sales of $758.90 million for the current fiscal year, with estimates ranging from $723.50 million to $772.90 million. For the next year, analysts anticipate that the business will report sales of $815.60 million, with estimates ranging from $773.60 million to $833.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Commvault Systems.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Monday, July 26th. The software maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.10. The firm had revenue of $183.40 million for the quarter, compared to the consensus estimate of $181.71 million. Commvault Systems had a negative net margin of 2.64% and a positive return on equity of 10.41%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS.

A number of research analysts have recently issued reports on the stock. Summit Insights boosted their price target on shares of Commvault Systems from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. KeyCorp boosted their price target on shares of Commvault Systems from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. Needham & Company LLC assumed coverage on shares of Commvault Systems in a research report on Monday, September 13th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Commvault Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 28th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $81.88.

Shares of NASDAQ CVLT traded up $1.68 during midday trading on Wednesday, reaching $74.72. The stock had a trading volume of 171,808 shares, compared to its average volume of 342,113. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -169.82, a price-to-earnings-growth ratio of 6.51 and a beta of 0.68. Commvault Systems has a twelve month low of $39.20 and a twelve month high of $84.22. The company’s 50 day moving average price is $77.06 and its 200 day moving average price is $74.92.

In other Commvault Systems news, insider Gary Merrill sold 3,991 shares of the company’s stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $74.93, for a total transaction of $299,045.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary B. Smith sold 18,500 shares of the company’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $76.26, for a total transaction of $1,410,810.00. Following the transaction, the director now owns 56,707 shares in the company, valued at approximately $4,324,475.82. The disclosure for this sale can be found here. 0.99% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Commvault Systems by 7.1% in the 1st quarter. BlackRock Inc. now owns 5,761,704 shares of the software maker’s stock worth $371,630,000 after acquiring an additional 380,727 shares in the last quarter. Acadian Asset Management LLC grew its position in Commvault Systems by 25.0% during the first quarter. Acadian Asset Management LLC now owns 977,027 shares of the software maker’s stock valued at $63,018,000 after buying an additional 195,136 shares during the period. Geode Capital Management LLC grew its position in Commvault Systems by 1.9% during the second quarter. Geode Capital Management LLC now owns 863,643 shares of the software maker’s stock valued at $67,510,000 after buying an additional 15,806 shares during the period. Northern Trust Corp grew its position in Commvault Systems by 3.8% during the second quarter. Northern Trust Corp now owns 696,510 shares of the software maker’s stock valued at $54,447,000 after buying an additional 25,222 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Commvault Systems by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 638,787 shares of the software maker’s stock valued at $49,935,000 after buying an additional 22,936 shares during the period. Hedge funds and other institutional investors own 92.95% of the company’s stock.

Commvault Systems Company Profile

Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. It products category include Data Protection, Data insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services.

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Earnings History and Estimates for Commvault Systems (NASDAQ:CVLT)

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