William Blair's Jason Ader thinks CommVault's (CVLT +6.3%) consensus FQ3 (Dec. quarter) revenue estimate ($144M) "does not represent a high hurdle," given the storage software vendor's ongoing momentum at large enterprises.
Ader also reports reseller checks once again indicated "CommVault remains the superior solution in the large-enterprise backup space despite Symantec's (SYMC +0.5%) recent NetBackup 7.6 release and recent IBM investments in the Tivoli Storage Manager (TSM) platform."
Piper downplayed the threat posed by NetBackup 7.6 in a December note, and declared pricing fears unwarranted given CommVault already undercuts Symantec by 20%-25%.
CommVault shares have badly underperformed the Nasdaq in recent months due to a combo of growth concerns and steep multiples. CommVault reports on the morning of Jan. 29, and Symantec in the afternoon.