Zacks: Brokerages Anticipate Commvault Systems, Inc. (NASDAQ:CVLT) to Announce $0.51 Earnings Per Share

Equities research analysts forecast that Commvault Systems, Inc. (NASDAQ:CVLT) will report earnings of $0.51 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Commvault Systems’ earnings, with estimates ranging from $0.50 to $0.52. Commvault Systems also reported earnings of $0.51 per share in the same quarter last year. The business is scheduled to announce its next earnings results on Tuesday, July 27th.

According to Zacks, analysts expect that Commvault Systems will report full year earnings of $2.54 per share for the current fiscal year, with EPS estimates ranging from $2.49 to $2.60. For the next financial year, analysts forecast that the business will report earnings of $3.11 per share, with EPS estimates ranging from $2.95 to $3.23. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Commvault Systems.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, May 4th. The software maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.11. The business had revenue of $191.34 million during the quarter, compared to analyst estimates of $182.37 million. Commvault Systems had a negative net margin of 4.28% and a positive return on equity of 7.93%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS.

Several equities analysts have issued reports on the company. Needham & Company LLC lifted their target price on Commvault Systems from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Piper Sandler upped their target price on Commvault Systems from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 12th. Zacks Investment Research downgraded Commvault Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, May 12th. KeyCorp restated an “overweight” rating on shares of Commvault Systems in a report on Thursday, April 29th. Finally, Lake Street Capital increased their price target on Commvault Systems from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Commvault Systems presently has a consensus rating of “Buy” and an average target price of $70.63.

In other news, CFO Brian Carolan sold 10,000 shares of the stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $79.00, for a total transaction of $790,000.00. Following the sale, the chief financial officer now directly owns 128,873 shares in the company, valued at approximately $10,180,967. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James J. Whalen sold 1,300 shares of the stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $75.14, for a total value of $97,682.00. Following the sale, the chief accounting officer now owns 30,123 shares in the company, valued at $2,263,442.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,861 shares of company stock valued at $6,127,128. Company insiders own 1.01% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CVLT. Eudaimonia Partners LLC bought a new position in Commvault Systems during the 1st quarter valued at $43,000. Altshuler Shaham Ltd bought a new position in Commvault Systems during the 1st quarter valued at $65,000. O Shaughnessy Asset Management LLC bought a new position in Commvault Systems during the 1st quarter valued at $77,000. FORA Capital LLC bought a new position in Commvault Systems during the 1st quarter valued at $78,000. Finally, Lazard Asset Management LLC bought a new position in Commvault Systems during the 1st quarter valued at $121,000. 93.71% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CVLT traded up $0.28 on Tuesday, hitting $81.15. 1,445 shares of the company’s stock were exchanged, compared to its average volume of 372,057. The stock’s 50 day simple moving average is $70.69. The company has a market capitalization of $3.74 billion, a PE ratio of -118.92, a price-to-earnings-growth ratio of 7.38 and a beta of 0.71. Commvault Systems has a 12 month low of $36.50 and a 12 month high of $80.97.

Commvault Systems Company Profile

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. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.

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

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