Commvault Systems (CVLT) Set to Announce Quarterly Earnings on Tuesday

Commvault Systems (NASDAQ:CVLT) is scheduled to 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 wish to listen to the company’s earnings conference call can do so using this link.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $216.81 million for 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 company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. 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 Commvault Systems stock opened at $95.54 on Tuesday. The firm’s fifty day simple moving average is $97.18 and its 200-day simple moving average is $83.17. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -3,183.61 and a beta of 0.62. Commvault Systems has a 12 month low of $56.76 and a 12 month high of $102.21.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVLT. Royal Bank of Canada lifted their target price 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 objective on the stock in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.60.

Insider Activity at Commvault Systems

In related news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the sale, 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. Insiders have sold a total of 23,306 shares of company stock worth $2,276,265 in the last three months. Insiders own 1.00% of the company’s stock.

About Commvault Systems

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.