Zacks: Brokerages Anticipate CommVault Systems, Inc. (NASDAQ:CVLT) Will Post Quarterly Sales of $165.04 Million

Wall Street analysts expect CommVault Systems, Inc. (NASDAQ:CVLT) to post $165.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for CommVault Systems’ earnings. The highest sales estimate is $174.20 million and the lowest is $162.20 million. CommVault Systems posted sales of $169.08 million during the same quarter last year, which suggests a negative year over year growth rate of 2.4%. The company is expected to announce its next quarterly earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that CommVault Systems will report full year sales of $684.30 million for the current financial year, with estimates ranging from $669.50 million to $725.10 million. For the next financial year, analysts forecast that the firm will report sales of $718.24 million, with estimates ranging from $681.00 million to $786.30 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. CommVault Systems had a return on equity of 6.57% and a net margin of 0.76%. The company had revenue of $162.20 million for the quarter, compared to analyst estimates of $170.53 million. During the same quarter last year, the company posted $0.36 EPS. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Jefferies Financial Group decreased their price target on CommVault Systems to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group decreased their price target on CommVault Systems from $74.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada set a $50.00 price target on CommVault Systems and gave the company a “hold” rating in a research note on Wednesday, July 31st. BidaskClub lowered CommVault Systems from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.83.

Shares of CVLT traded down $0.40 during midday trading on Monday, hitting $43.88. The company’s stock had a trading volume of 316,648 shares, compared to its average volume of 537,005. CommVault Systems has a one year low of $41.68 and a one year high of $70.70. The company’s fifty day moving average price is $48.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market cap of $1.98 billion, a PE ratio of 73.13, a price-to-earnings-growth ratio of 11.41 and a beta of 1.16.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anderson Fisher LLC acquired a new position in CommVault Systems during the 1st quarter worth about $106,000. Aperio Group LLC acquired a new position in CommVault Systems during the 2nd quarter worth about $109,000. First Mercantile Trust Co. lifted its holdings in CommVault Systems by 13.8% during the 1st quarter. First Mercantile Trust Co. now owns 2,251 shares of the software maker’s stock worth $146,000 after buying an additional 273 shares during the period. FNY Investment Advisers LLC acquired a new position in CommVault Systems during the 2nd quarter worth about $124,000. Finally, Meeder Asset Management Inc. lifted its holdings in CommVault Systems by 40.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,661 shares of the software maker’s stock worth $132,000 after buying an additional 761 shares during the period. 90.44% of the stock is currently owned by institutional investors.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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

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