Analysts expect CommVault Systems, Inc. (NASDAQ:CVLT) to post sales of $170.30 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for CommVault Systems’ earnings, with estimates ranging from $169.80 million to $171.50 million. CommVault Systems posted sales of $176.18 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 30th.
On average, analysts expect that CommVault Systems will report full year sales of $718.02 million for the current financial year, with estimates ranging from $705.50 million to $728.50 million. For the next year, analysts anticipate that the company will post sales of $763.36 million, with estimates ranging from $724.00 million to $794.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $181.40 million during the quarter, compared to analysts’ expectations of $189.02 million. CommVault Systems had a return on equity of 6.30% and a net margin of 0.50%. CommVault Systems’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share.
A number of analysts have commented on the company. BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Mitsubishi UFJ Financial Group reduced their price target on CommVault Systems from $74.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Lake Street Capital cut CommVault Systems from a “buy” rating to a “hold” rating and reduced their price target for the stock from $69.00 to $60.00 in a research report on Tuesday, April 30th. ValuEngine upgraded Yelp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group reduced their price target on CommVault Systems to $65.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. CommVault Systems presently has a consensus rating of “Hold” and an average target price of $65.40.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of CommVault Systems by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,530 shares of the software maker’s stock worth $771,000 after acquiring an additional 220 shares during the period. First Mercantile Trust Co. boosted its stake in shares of CommVault Systems by 13.8% in the first quarter. First Mercantile Trust Co. now owns 2,251 shares of the software maker’s stock worth $146,000 after acquiring an additional 273 shares during the period. SG Americas Securities LLC boosted its stake in CommVault Systems by 5.7% during the first quarter. SG Americas Securities LLC now owns 6,444 shares of the software maker’s stock valued at $417,000 after buying an additional 346 shares during the last quarter. Fort L.P. bought a new position in CommVault Systems during the fourth quarter valued at approximately $31,000. Finally, Thrivent Financial for Lutherans boosted its stake in CommVault Systems by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,755 shares of the software maker’s stock valued at $576,000 after buying an additional 576 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.
CommVault Systems stock remained flat at $$50.13 during mid-day trading on Friday. The company had a trading volume of 223,100 shares, compared to its average volume of 496,775. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 83.55, a PEG ratio of 7.03 and a beta of 1.16. CommVault Systems has a 12 month low of $45.53 and a 12 month high of $70.70. The company has a 50-day moving average price of $48.71.
About CommVault Systems
Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.
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