In This Article:
Data backup provider Commvault (NASDAQ:CVLT) will be reporting earnings tomorrow before the bell. Here’s what to expect.
Commvault Systems beat analysts’ revenue expectations by 5.6% last quarter, reporting revenues of $233.3 million, up 16.1% year on year. It was an exceptional 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 13.3% year on year to $245.6 million, improving from the 11.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.87 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.1% 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 1.1% on average over the last month. Commvault Systems is up 2.5% during the same time and is heading into earnings with an average analyst price target of $178.17 (compared to the current share price of $154.99).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.