We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Following its impressive fiscal second-quarter report in late October investors may want to take notice of CommVault Systems (CVLT - Free Report) ) stock which currently sports a Zacks Rank #1 (Strong Buy) and lands the Bull of the Day.
CommVault Provides Unified Data Management solutions for high-performance data protection and has been taking advantage of a strengthening business environment as the Zacks Computer-Software Industry is currently in the top 26% of over 250 Zacks industries.
Strong Momentum
In addition to its Zacks Rank #1 (Strong Buy), CommVault’s stock has an “A” Zacks Style Scores grade for Momentum after beating Q2 top and bottom line expectations on Friday, October 31.
CommVault’s Q2 earnings of $0.70 per share beat the Zacks Consensus of $0.65 a share by 7%. More impressive, Q2 earnings soared 23% year over year with sales of $201 million topping estimates by 3% and rising 7% from the prior-year quarter.
CommVault is building a desirable customer base as recurring revenue of $158.2 million represented 84% of total revenue during the quarter and popped 12% YoY with CEO Sanjay Mirchandani stating the company's comprehensive data protection portfolio has never been more important in today’s increasingly difficult world.
Image Source: Zacks Investment Research
Stellar Growth
CommVault’s stock also sports an “A” Zacks Style Scores grade for Growth with earnings now forecasted to jump 13% in its current fiscal 2024 and climb another 8% in FY25 to $3.12 per share.
Even better, FY25 EPS projections would represent a very stellar 280% increase over the last five years with CommVault’s earnings at $0.82 per share in 2021. Plus, total sales are projected to be up 4% in FY24 and rise another 5% in FY25 to $861.27 million.
Image Source: Zacks Investment Research
Bottom Line
CommVault is turning into a very appealing growth stock and considering the lofty premium many software companies can command in this regard, CVLT trades reasonably at a 23.3X forward earnings multiple. More reassuring, earnings estimates have begun to rise following the company’s strong Q2 results making now an ideal time to buy CommVault’s stock.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Bull of the Day: CommVault Systems (CVLT)
Following its impressive fiscal second-quarter report in late October investors may want to take notice of CommVault Systems (CVLT - Free Report) ) stock which currently sports a Zacks Rank #1 (Strong Buy) and lands the Bull of the Day.
CommVault Provides Unified Data Management solutions for high-performance data protection and has been taking advantage of a strengthening business environment as the Zacks Computer-Software Industry is currently in the top 26% of over 250 Zacks industries.
Strong Momentum
In addition to its Zacks Rank #1 (Strong Buy), CommVault’s stock has an “A” Zacks Style Scores grade for Momentum after beating Q2 top and bottom line expectations on Friday, October 31.
CommVault’s Q2 earnings of $0.70 per share beat the Zacks Consensus of $0.65 a share by 7%. More impressive, Q2 earnings soared 23% year over year with sales of $201 million topping estimates by 3% and rising 7% from the prior-year quarter.
CommVault is building a desirable customer base as recurring revenue of $158.2 million represented 84% of total revenue during the quarter and popped 12% YoY with CEO Sanjay Mirchandani stating the company's comprehensive data protection portfolio has never been more important in today’s increasingly difficult world.
Image Source: Zacks Investment Research
Stellar Growth
CommVault’s stock also sports an “A” Zacks Style Scores grade for Growth with earnings now forecasted to jump 13% in its current fiscal 2024 and climb another 8% in FY25 to $3.12 per share.
Even better, FY25 EPS projections would represent a very stellar 280% increase over the last five years with CommVault’s earnings at $0.82 per share in 2021. Plus, total sales are projected to be up 4% in FY24 and rise another 5% in FY25 to $861.27 million.
Image Source: Zacks Investment Research
Bottom Line
CommVault is turning into a very appealing growth stock and considering the lofty premium many software companies can command in this regard, CVLT trades reasonably at a 23.3X forward earnings multiple. More reassuring, earnings estimates have begun to rise following the company’s strong Q2 results making now an ideal time to buy CommVault’s stock.