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Commvault Systems (CVLT) Rises But Trails Market: What Investors Should Know
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Commvault Systems (CVLT - Free Report) closed the most recent trading day at $159.91, moving +0.25% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 0.6%.
Shares of the data-management software company witnessed a gain of 11.24% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.96% and the S&P 500's gain of 6.41%.
The investment community will be paying close attention to the earnings performance of Commvault Systems in its upcoming release. The company is slated to reveal its earnings on October 29, 2024. The company's upcoming EPS is projected at $0.74, signifying a 5.71% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $220.9 million, indicating a 9.9% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.32 per share and revenue of $921.2 million, which would represent changes of +11.41% and +9.77%, respectively, from the prior year.
Any recent changes to analyst estimates for Commvault Systems should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Commvault Systems holds a Zacks Rank of #3 (Hold).
Digging into valuation, Commvault Systems currently has a Forward P/E ratio of 48.04. This signifies a premium in comparison to the average Forward P/E of 28.92 for its industry.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Commvault Systems (CVLT) Rises But Trails Market: What Investors Should Know
Commvault Systems (CVLT - Free Report) closed the most recent trading day at $159.91, moving +0.25% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 0.6%.
Shares of the data-management software company witnessed a gain of 11.24% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.96% and the S&P 500's gain of 6.41%.
The investment community will be paying close attention to the earnings performance of Commvault Systems in its upcoming release. The company is slated to reveal its earnings on October 29, 2024. The company's upcoming EPS is projected at $0.74, signifying a 5.71% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $220.9 million, indicating a 9.9% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.32 per share and revenue of $921.2 million, which would represent changes of +11.41% and +9.77%, respectively, from the prior year.
Any recent changes to analyst estimates for Commvault Systems should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Commvault Systems holds a Zacks Rank of #3 (Hold).
Digging into valuation, Commvault Systems currently has a Forward P/E ratio of 48.04. This signifies a premium in comparison to the average Forward P/E of 28.92 for its industry.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.