Data protection software company Commvault (NASDAQ:CVLT) will report earnings before the bell this Tuesday. Here’s what investors need to know.
Commvault exceeded analyst revenue expectations by 5.2% last quarter, reporting revenue of $282 million, up 25.5% year over year. It was a very strong quarter for the company, with a solid increase in analyst expectations and an impressive increase in annual recurring revenue expectations from analysts.
Is Commvault a profitable buy or sell? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts expect Commvault’s revenue to grow 17.2% year over year to $273.3 million, an improvement over the 16.1% increase recorded in the same quarter last year. Adjusted earnings are expected to be $0.94 per share.
Analysts covering the company have generally reaffirmed their estimates over the last thirty days, suggesting they expect the company to continue its trajectory on the earnings front. Commvault has a history of exceeding Wall Street expectations, beating revenue expectations by an average of 4.9% each time over the past two years.
With Commvault being the first of its peers to report earnings this season, we don’t have to look anywhere else to get an idea of how this quarter will unfold for data and analytics software stocks. However, investors in this segment have been on steady footing to make profits as share prices have held steady over the past month. Commvault is down 12% over the same period and is heading for gains with an average price target of $214.56 (compared to the current share price of $169.89).
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