Data backup provider Commvault (NASDAQ:CVLT) will be reporting results tomorrow morning. Here's what investors should know.
Last quarter Commvault Systems reported revenues of $201 million, up 6.9% year on year, beating analyst revenue expectations by 3%. It was a good quarter for the company, with a decent beat of analysts' revenue estimates.
Is Commvault Systems buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Commvault Systems's revenue to grow 6.7% year on year to $208.1 million, improving on the 3.6% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.73 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 1.7%.
With Commvault Systems being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for data and analytics software stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 2.9% over the last month. Commvault Systems is up 3.5% during the same time, and is heading into the earnings with analyst price target of $82, compared to share price of $79.68.
The author has no position in any of the stocks mentioned.
