Data protection software company Commvault (NASDAQ:CVLT) will be announcing earnings results this Tuesday before market hours. Here’s what investors should know.
Commvault beat analysts’ revenue expectations last quarter, reporting revenues of $311.7 million, up 13.3% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ billings estimates but full-year guidance of slowing revenue growth.
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 10.1% year on year, slowing from the 25.5% 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 2.1% on average over the last month. Commvault is down 1.3% during the same time .
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