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

Commvault Systems (NASDAQ:CVLT) is set to issue its quarterly earnings data before the market opens on Tuesday, April 30th. Analysts expect the company to announce 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.Parties that are interested in registering for the company’s conference call can do so using this link.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $216.81 million for the quarter, compared to the consensus estimate of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm 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

CVLT stock opened at $95.54 on Tuesday. The company has a market capitalization of $4.18 billion, a PE 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. The firm’s 50-day moving average is $97.18 and its 200 day moving average is $83.17.

Analyst Ratings Changes

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

Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction that occurred on 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 owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Gary Merrill sold 822 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the sale, the chief financial officer now directly owns 87,945 shares in the company, valued at approximately $8,552,651.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,306 shares of company stock valued at $2,276,265 in the last 90 days. Insiders own 1.00% of the company’s stock.

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.