Data protection software company Commvault (NASDAQ: CVLT) will be announcing earnings results this Tuesday morning. Here’s what to expect.
Commvault beat analysts’ revenue expectations last quarter, reporting revenues of $314.1 million, up 11.4% year on year. It was a slower quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ billings estimates.
Is Commvault a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Commvault’s revenue to grow 12.4% year on year, slowing from the 18.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Commvault has a history of exceeding Wall Street’s expectations.
With Commvault 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 unfold for data and analytics software stocks. However, there has been positive investor sentiment in the segment, with share prices up 14% on average over the last month. Commvault is up 14.4% during the same time .
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