Wall Street analysts forecast that CommVault Systems, Inc. (NASDAQ:CVLT) will announce $178.48 million in sales for the current quarter, according to Zacks. Five analysts have issued 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 would suggest a positive year over year growth rate of 7.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 24th.
According to Zacks, 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 fiscal year, analysts anticipate that the company will post sales of $848.14 million per share, with estimates ranging from $835.00 million to $871.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, May 1st. The software maker reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $184.90 million for 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%. CommVault Systems’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS.
Several equities analysts have commented on CVLT shares. Wells Fargo & Co increased their price target on CommVault Systems from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 3rd. Jefferies Group reiterated a “buy” rating and set a $76.00 price target on shares of CommVault Systems in a report on Monday, April 2nd. ValuEngine upgraded CommVault Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of CommVault Systems in a report on Monday, April 30th. Finally, BTIG Research increased their price target on CommVault Systems from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 26th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $74.60.
Shares of CommVault Systems opened at $68.60 on Friday, MarketBeat.com reports. CommVault Systems has a 12 month low of $48.35 and a 12 month high of $71.45.
In other news, VP Brian Carolan sold 5,470 shares of the firm’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $67.90, for a total value of $371,413.00. Following the sale, the vice president now owns 88,404 shares in the company, valued at $6,002,631.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Al Bunte sold 70,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $50.74, for a total transaction of $3,551,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 433,536 shares of company stock worth $24,552,172. 13.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in CVLT. Cubist Systematic Strategies LLC acquired a new stake in shares of CommVault Systems in the first quarter worth $171,000. Xact Kapitalforvaltning AB acquired a new stake in shares of CommVault Systems in the fourth quarter worth $238,000. Virtu Financial LLC acquired a new stake in shares of CommVault Systems in the fourth quarter worth $260,000. Stoneridge Investment Partners LLC acquired a new stake in shares of CommVault Systems in the fourth quarter worth $291,000. Finally, Meadow Creek Investment Management LLC grew its stake in shares of CommVault Systems by 29.4% in the fourth 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.
About CommVault Systems
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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