Commvault Systems (CVLT) to Release Earnings on Tuesday

Commvault Systems (NASDAQ:CVLT) will release its earnings data before the market opens on Tuesday, April 30th. Analysts expect Commvault Systems to post earnings of $0.73 per share for the quarter. Commvault Systems has set its FY 2024 guidance at EPS and its Q4 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. On average, analysts expect Commvault Systems to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $98.30 on Monday. The stock has a market capitalization of $4.30 billion, a P/E ratio of -3,276.67 and a beta of 0.62. The company has a 50-day moving average price of $97.48 and a 200-day moving average price of $83.97. Commvault Systems has a 1 year low of $57.46 and a 1 year high of $102.21.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVLT. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. KeyCorp upgraded shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target on the stock in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.60.

Insider Buying and Selling

In related news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the transaction, the chief financial officer now directly owns 87,945 shares in the company, valued at $8,552,651.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the transaction, the chief financial officer now owns 87,945 shares in the company, valued at $8,552,651.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by insiders.

Commvault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.