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Data backup provider Commvault (NASDAQ:CVLT) will be reporting earnings tomorrow before market hours. Here’s what to expect.
Commvault Systems beat analysts’ revenue expectations by 6.9% last quarter, reporting revenues of $262.6 million, up 21.1% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ billings estimates and an impressive beat of analysts’ EBITDA estimates.
Is Commvault Systems a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Commvault Systems’s revenue to grow 17.5% year on year to $262.4 million, improving from the 9.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.93 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Commvault Systems has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 4.1% on average.
With Commvault Systems being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for data and analytics software stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Commvault Systems is up 5% during the same time and is heading into earnings with an average analyst price target of $173.04 (compared to the current share price of $165.70).
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