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Commvault Systems (CVLT) Outpaces Stock Market Gains: What You Should Know
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The latest trading session saw Commvault Systems (CVLT - Free Report) ending at $124.80, denoting a +1.14% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the data-management software company had gained 4.3% over the past month, outpacing the Computer and Technology sector's gain of 1.06% and the S&P 500's gain of 3.82% in that time.
Investors will be eagerly watching for the performance of Commvault Systems in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. In that report, analysts expect Commvault Systems to post earnings of $0.75 per share. This would mark year-over-year growth of 4.17%. Meanwhile, our latest consensus estimate is calling for revenue of $214.47 million, up 8.23% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.38 per share and a revenue of $910 million, signifying shifts of +13.42% and +8.43%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Commvault Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Commvault Systems is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Commvault Systems has a Forward P/E ratio of 36.53 right now. This denotes a premium relative to the industry's average Forward P/E of 31.18.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Commvault Systems (CVLT) Outpaces Stock Market Gains: What You Should Know
The latest trading session saw Commvault Systems (CVLT - Free Report) ending at $124.80, denoting a +1.14% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the data-management software company had gained 4.3% over the past month, outpacing the Computer and Technology sector's gain of 1.06% and the S&P 500's gain of 3.82% in that time.
Investors will be eagerly watching for the performance of Commvault Systems in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. In that report, analysts expect Commvault Systems to post earnings of $0.75 per share. This would mark year-over-year growth of 4.17%. Meanwhile, our latest consensus estimate is calling for revenue of $214.47 million, up 8.23% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.38 per share and a revenue of $910 million, signifying shifts of +13.42% and +8.43%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Commvault Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Commvault Systems is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Commvault Systems has a Forward P/E ratio of 36.53 right now. This denotes a premium relative to the industry's average Forward P/E of 31.18.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.