Analysts expect that CommVault Systems, Inc. (NASDAQ:CVLT) will announce sales of $178.48 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for CommVault Systems’ earnings, with the lowest sales estimate coming in at $177.70 million and the highest estimate coming in at $179.00 million. CommVault Systems reported sales of $165.97 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The business is expected to report its next quarterly earnings report on Tuesday, July 24th.
On average, analysts expect that CommVault Systems will report full year sales of $767.60 million for the current financial year, with estimates ranging from $763.70 million to $772.50 million. For the next year, analysts expect that the business will report sales of $848.14 million per share, with estimates ranging from $835.00 million to $871.50 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, May 1st. The software maker reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). The firm had revenue of $184.90 million during the quarter, compared to the consensus estimate of $187.01 million. CommVault Systems had a negative net margin of 8.85% and a negative return on equity of 0.12%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share.
Several analysts have issued reports on CVLT shares. BidaskClub upgraded CommVault Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Mizuho reiterated a “buy” rating and set a $75.00 price objective on shares of CommVault Systems in a research note on Monday, April 30th. Jefferies Group reiterated a “buy” rating and set a $76.00 price objective on shares of CommVault Systems in a research note on Monday, April 2nd. BTIG Research boosted their price objective on CommVault Systems from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Finally, Lake Street Capital reiterated a “buy” rating and set a $58.00 price objective (down from $60.00) on shares of CommVault Systems in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. CommVault Systems has a consensus rating of “Buy” and an average target price of $74.60.
Shares of CVLT opened at $68.60 on Friday. CommVault Systems has a 1 year low of $48.35 and a 1 year high of $71.45.
In other CommVault Systems news, Director Robert F. Kurimsky sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $50.32, for a total value of $377,400.00. Following the transaction, the director now directly owns 62,339 shares in the company, valued at approximately $3,136,898.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman N Robert Hammer sold 187,502 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $50.73, for a total value of $9,511,976.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 433,536 shares of company stock worth $24,552,172. 13.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in CommVault Systems in the 1st quarter worth about $171,000. Xact Kapitalforvaltning AB bought a new position in CommVault Systems in the 4th quarter worth about $238,000. Virtu Financial LLC bought a new position in CommVault Systems in the 4th quarter worth about $260,000. Stoneridge Investment Partners LLC bought a new position in CommVault Systems in the 4th quarter worth about $291,000. Finally, Meadow Creek Investment Management LLC increased its stake in CommVault Systems by 29.4% in the 4th quarter. Meadow Creek Investment Management LLC now owns 5,544 shares of the software maker’s stock worth $291,000 after acquiring an additional 1,260 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.
CommVault Systems Company Profile
Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.
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