Zacks: Analysts Expect Commvault Systems, Inc. (NASDAQ:CVLT) to Post $0.51 Earnings Per Share

Equities research analysts predict that Commvault Systems, Inc. (NASDAQ:CVLT) will post earnings of $0.51 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Commvault Systems’ earnings. The lowest EPS estimate is $0.50 and the highest is $0.52. Commvault Systems also reported earnings of $0.51 per share in the same quarter last year. The business is scheduled to issue its next earnings report before the market opens 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 financial year, with EPS estimates ranging from $2.49 to $2.60. For the next year, analysts forecast that the firm will post earnings of $3.11 per share, with EPS estimates ranging from $2.95 to $3.23. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Commvault Systems.

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

CVLT has been the topic of a number of research analyst reports. Zacks Investment Research lowered Commvault Systems from a “hold” rating to a “sell” rating in a report on Thursday, July 15th. Piper Sandler lifted their price target on Commvault Systems from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 12th. Needham & Company LLC lifted their price target on Commvault Systems from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, May 5th. KeyCorp reissued an “overweight” rating on shares of Commvault Systems in a research note on Thursday, April 29th. Finally, Lake Street Capital lifted their price target on Commvault Systems from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $70.63.

NASDAQ:CVLT opened at $80.29 on Monday. The business’s 50-day moving average price is $77.07. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -118.07, a P/E/G ratio of 7.44 and a beta of 0.71. Commvault Systems has a 52-week low of $37.73 and a 52-week high of $82.17.

In related news, VP Blasio Riccardo Di sold 4,941 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $73.88, for a total value of $365,041.08. Following the completion of the sale, the vice president now directly owns 79,511 shares in the company, valued at approximately $5,874,272.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Carolan sold 33,630 shares of the business’s stock in a transaction that occurred on Tuesday, May 25th. The stock was sold at an average price of $76.05, for a total value of $2,557,561.50. Following the completion of the sale, the chief financial officer now owns 136,058 shares of the company’s stock, valued at $10,347,210.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,000 shares of company stock valued at $7,758,884. 0.99% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Eudaimonia Partners LLC bought a new position in Commvault Systems in the 1st quarter worth approximately $43,000. Altshuler Shaham Ltd bought a new position in Commvault Systems in the 1st quarter worth approximately $65,000. O Shaughnessy Asset Management LLC bought a new position in Commvault Systems in the 1st quarter worth approximately $77,000. FORA Capital LLC bought a new stake in shares of Commvault Systems during the first quarter valued at approximately $78,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Commvault Systems during the first quarter valued at approximately $121,000. 93.17% of the stock is currently owned by institutional investors.

About Commvault Systems

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution.

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

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