Data backup provider Commvault (NASDAQ:CVLT) will be reporting results tomorrow before market open. Here's what to expect.
Last quarter Commvault Systems reported revenues of $198.2 million, flat year on year, in line with analyst expectations. It was a decent quarter for the company, with revenue and EPS exceeding analysts' expectations.
Is Commvault Systems buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Commvault Systems's revenue to grow 3.81% year on year to $195.2 million, slowing down from the 5.75% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.64 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
With Commvault Systems being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for data and analytics software stocks, but the whole sector has been facing a sell-off since late last year, with stocks down on average 8.4% over the last month. Commvault Systems is down 6.11% during the same time, and is heading into the earnings with analysts' average price target of $80.66, compared to share price of $64.12.
The author has no position in any of the stocks mentioned.