Commvault Systems (CVLT) To Report Earnings Tomorrow: Here Is What To Expect

Commvault Systems (CVLT) To Report Earnings Tomorrow: Here Is What To Expect

Data backup provider Commvault (NASDAQ:CVLT) will be reporting earnings tomorrow before market open. Here's what you need to know.

Commvault Systems beat analysts' revenue expectations by 5.1% last quarter, reporting revenues of $223.3 million, up 9.7% year on year. It was a very strong quarter for the company, with management forecasting accelerating growth and a solid beat of analysts' billings estimates.

Is Commvault Systems a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Commvault Systems's revenue to grow 8.8% year on year to $215.5 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.73 per share.

Commvault Systems Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Commvault Systems has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 2.1% on average.

With Commvault Systems 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 unravel for data and analytics software stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.9% on average over the last month. Commvault Systems is up 2.4% during the same time and is heading into earnings with an average analyst price target of $132 (compared to the current share price of $124.6).

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