Commvault Systems (NASDAQ:CVLT) issued its quarterly earnings results on Tuesday. The software maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11, MarketWatch Earnings reports. Commvault Systems had a positive return on equity of 4.52% and a negative net margin of 4.47%. The firm had revenue of $191.34 million for the quarter, compared to analysts’ expectations of $182.37 million. During the same period in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year.
Shares of NASDAQ CVLT traded up $1.42 during midday trading on Tuesday, hitting $69.96. 16,053 shares of the stock traded hands, compared to its average volume of 350,650. The firm has a 50-day moving average of $67.08 and a two-hundred day moving average of $58.06. The firm has a market capitalization of $3.29 billion, a P/E ratio of -103.85, a PEG ratio of 8.17 and a beta of 0.79. Commvault Systems has a one year low of $34.42 and a one year high of $72.33.
A number of analysts have recently commented on CVLT shares. KeyCorp reissued an “overweight” rating on shares of Commvault Systems in a research report on Thursday, April 29th. Royal Bank of Canada boosted their price target on Commvault Systems from $48.00 to $57.00 in a research report on Thursday, January 28th. Piper Sandler boosted their price target on Commvault Systems from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Wells Fargo & Company boosted their price target on Commvault Systems from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Finally, Zacks Investment Research cut Commvault Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, March 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.38.
About Commvault Systems
Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.
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