In the latest trading session, Commvault Systems (CVLT) closed at $125.36, marking a -1.13% move from the previous day. This change lagged the S&P 500's daily loss of 0.74%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.76%.
The stock of data-management software company has risen by 2.67% in the past month, leading the Computer and Technology sector's gain of 0.14% and the S&P 500's gain of 0.79%.
Investors will be eagerly watching for the performance of Commvault Systems in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.98, signifying a 4.26% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $299 million, indicating a 13.85% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.91 per share and revenue of $1.16 billion, which would represent changes of +7.12% and +16.82%, respectively, from the prior year.
Any recent changes to analyst estimates for Commvault Systems should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Commvault Systems presently features a Zacks Rank of #3 (Hold).
Investors should also note Commvault Systems's current valuation metrics, including its Forward P/E ratio of 32.43. This indicates a premium in contrast to its industry's Forward P/E of 23.86.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 82, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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CommVault Systems, Inc. (CVLT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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