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

Wall Street brokerages expect Commvault Systems, Inc. (NASDAQ:CVLT) to post $0.51 earnings per share (EPS) for the current quarter, Zacks Investment Research 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 posted earnings per share of $0.51 in the same quarter last year. The company is scheduled to announce its next earnings results before the market opens on Tuesday, July 27th.

On average, 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 fiscal year, analysts anticipate that the company will post earnings of $3.11 per share, with EPS estimates ranging from $2.95 to $3.23. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Commvault Systems.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, May 4th. The software maker reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $191.34 million during the quarter, compared to analyst estimates of $182.37 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year.

CVLT has been the subject of several recent research reports. Needham & Company LLC boosted their target price on shares of Commvault Systems from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Piper Sandler boosted their target price on shares of Commvault Systems from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, May 12th. Lake Street Capital boosted their target price on shares of Commvault Systems from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Zacks Investment Research lowered shares of Commvault Systems from a “hold” rating to a “sell” rating in a research note on Thursday, July 15th. Finally, KeyCorp reissued an “overweight” rating on shares of Commvault Systems in a report on Thursday, April 29th. One research 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. Commvault Systems presently has a consensus rating of “Buy” and a consensus target price of $70.63.

In related news, CEO Sanjay Mirchandani sold 5,000 shares of the company’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $67.88, for a total value of $339,400.00. Following the completion of the sale, the chief executive officer now owns 279,003 shares of the company’s stock, valued at $18,938,723.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Blasio Riccardo Di sold 4,941 shares of the company’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $73.88, for a total transaction of $365,041.08. Following the completion of the sale, the vice president now directly owns 79,511 shares of the company’s stock, valued at approximately $5,874,272.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,000 shares of company stock valued at $7,758,884. Corporate insiders own 0.99% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Commvault Systems by 7.1% in the 1st quarter. BlackRock Inc. now owns 5,761,704 shares of the software maker’s stock valued at $371,630,000 after acquiring an additional 380,727 shares during the last quarter. Starboard Value LP lifted its holdings in Commvault Systems by 3.6% in the 4th quarter. Starboard Value LP now owns 4,469,256 shares of the software maker’s stock valued at $247,463,000 after acquiring an additional 156,804 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Commvault Systems by 2.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,969,151 shares of the software maker’s stock valued at $191,510,000 after acquiring an additional 72,197 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Commvault Systems by 25.0% in the 1st quarter. Acadian Asset Management LLC now owns 977,027 shares of the software maker’s stock valued at $63,018,000 after acquiring an additional 195,136 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Commvault Systems by 8.2% in the 1st quarter. Geode Capital Management LLC now owns 847,837 shares of the software maker’s stock valued at $54,685,000 after acquiring an additional 64,005 shares during the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

CVLT stock opened at $80.29 on Monday. Commvault Systems has a 1-year low of $37.73 and a 1-year high of $82.17. The company’s fifty day simple moving average is $77.07. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -118.07, a price-to-earnings-growth ratio of 7.44 and a beta of 0.71.

Commvault Systems Company Profile

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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