Data backup provider Commvault (NASDAQ:CVLT) will be reporting earnings tomorrow before the bell. Here's what to look for.
Last quarter Commvault Systems reported revenues of $197.9 million, up 7.93% year on year, beating analyst revenue expectations by 1.41%. It was a weaker quarter for the company, with slow revenue growth. The company lost 42 enterprise customers paying more than $100,000 annually and ended up with a total of 184.
Is Commvault Systems buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Commvault Systems's revenue to grow 4.88% year on year to $186.5 million, improving on the 3.91% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 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 only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.55%.
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 software stocks, but investors in the segment have had steady hands going into the earnings, with the stocks up on average 1.96% over the last month. Commvault Systems is up 13.9% during the same time, and is heading into the earnings with analyst price target of $68.20, compared to share price of $61.67.
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The author has no position in any of the stocks mentioned.