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Wed, Jan. 27, 12:49 PM
Wed, Jan. 27, 9:37 AM
- In addition to beating FQ3 estimates, CommVault (NASDAQ:CVLT) stated on its earnings call it considers Street FQ4 estimates to be "reasonable" - consensus is for revenue of $156.3M (+3.7% Y/Y) - and that it expects double-digit software revenue growth in FY17 (ends March '17). Consensus for total FY17 revenue growth is at 7.6%.
- Top-line performance: Software revenue was flat Y/Y in FQ3 at $71.4M. Services revenue (driven by past software sales) rose 4% to $84.3M. Forex had a 400 bps impact on total revenue growth (2% vs. 6%).
- Financials: GAAP operating expenses rose just 3% Y/Y to $131.8M - sales/marketing spend totaled $91.4M, R&D $18M, and G&A $20M. $9.6M was spent on buybacks, and CommVault notes it has spent another $14.8M thus far in FQ4. The storage software firm ended FQ3 with $401M in cash and no debt. The quarter-ending deferred revenue balance was $230.4M.
- Low expectations are contributing to CommVault's surge: Shares went into earnings down 65% from a 2013 peak of $90.00.
- CommVault's FQ3 results, earnings release
Fri, Jan. 15, 10:42 AM
- Citing concerns about the lengthening sales cycles, Sterne Agee has downgraded CommVault (NASDAQ:CVLT) to Neutral ahead of its Jan. 27 FQ3 report.
- The storage backup/recovery software firm has made new 52-week lows. With concerns about weak enterprise storage demand continuing to weigh on shares, CommVault now trades for for just 2.3x an FY17 (ends March '17) sales consensus of $629.4M. The FY16 revenue growth consensus is -3.8%, and the FY17 consensus 7.7%.
Jul. 28, 2015, 12:40 PM
Jul. 28, 2015, 9:17 AM
Jul. 28, 2015, 9:09 AM
- In addition to missing FQ1 estimates, CommVault (NASDAQ:CVLT) has guided on its earnings call (webcast) for flat Q/Q FQ2 sales growth, and for FY16 (ends March '16) revenue to be flat to down slightly. Consensus is for 11% Q/Q FQ2 growth (to $154.4M), and for 5.3% FY16 growth.
- The numbers come after EMC, QLogic, Quantum, and others have reported seeing soft enterprise storage demand. Public cloud storage growth is generally seen as an industry headwind.
- CommVault has tumbled to $33.00 premarket, making new 52-week lows along the way.
- FQ1 results, PR
Apr. 13, 2015, 6:54 PM
- A Piper Q1 survey of 41 North American and European storage resellers found 44% of Nimble Storage (NYSE:NMBL) resellers were above plan, 22% below plan, and the rest in-line. In addition, Nimble had the highest % of resellers (44%) expecting above-normal Q2 seasonality.
- The net difference between Nimble resellers that were above and below plan (+22%) was a marked improvement from Q4's -6%, and second only to flash storage array vendor Pure Storage (+50%), which was recently reported to be planning an IPO. Multiple analysts have already reported upstarts such as Nimble and Pure are making larger inroads into the bases of enterprise storage giants.
- CommVault (NASDAQ:CVLT), on the other hand, had a net difference of -25%, worse than Q4's -13% and the weakest figure in Piper's survey.
- Nimble rose 4.6% today, while CommVault was nearly flat. CommVault's FQ4 results arrive on May 5.
- Last week: Citrix, CommVault seen as buyout targets
Oct. 28, 2014, 9:13 AM
Jul. 29, 2014, 9:08 AM
Apr. 25, 2014, 12:47 PM
Apr. 25, 2014, 9:13 AM
Mar. 17, 2014, 9:43 AM
- VMware (VMW +2.2%) has been started at Buy by Monness Crespi.
- SAP (SAP +2.2%) has been upgraded to Buy by Citi.
- VeriSign (VRSN -8.8%) has been cut to Market Perform by Cowen. The downgrade comes as the NTIA announces it will relinquish control of the Internet's domain name management system to an international body. VeriSign insists the move won't affect its operation of the .com and .net registries.
- CommVault (CVLT +3.3%) has been upgraded to Buy by Mizuho.
- RingCentral (RNG +4.5%) has been started at Outperform by William Blair.
- NetScout (NTCT +0.1%) has been cut to Neutral by D.A. Davidson.
- RPX (RPXC +3%) has been started at Outperform by Cowen.
- Cadence (CDNS +1.4%) has been started at Overweight by Piper.
Feb. 10, 2014, 9:51 AM
- F5 (FFIV +1.1%) has been started at Buy by Dougherty & Co. The company beat FQ1 estimates and issued strong guidance last month.
- FireEye (FEYE +3.7%) has been started at Outperform by Wells Fargo. Q4 results arrive tomorrow.
- Maxim (MXIM +1.9%) has been upgraded to Strong Buy by Raymond James.
- CommVault (CVLT +0.6%) has been upgraded to Outperform by JMP. Shares tanked two weeks ago due to the cautious CC remarks provided with an FQ3 beat.
- Ingram Micro (IM +1.8%) has been upgraded to Buy by Brean.
- CalAmp (CAMP +2.2%) has been started at Strong Buy by Midtown Partners.
Jan. 29, 2014, 2:42 PM
- Though it beat FQ3 estimates, CommVault (CVLT -8.9%) noted on its FQ4 CC (transcript) a recent survey "indicates a slower start to 2014."
- The company also mentioned there are "execution risks" related to its All Things Data strategy, through which the storage backup/recovery software vendor plans to expand into a slew of adjacent storage software markets, including replication, mobile file-sharing, archiving, infrastructure analytics, and health care storage software.
- CommVault adds it still considers FY14 (ends in March) analyst estimates to be "reasonable," and predicts it will see "solid double-digit revenue and EBIT growth" in FY15. The company's FY15 revenue consensus already calls for 15.7% growth.
- Software revenue (drives future services revenue) rose 20% Y/Y in FQ3, even with total revenue growth. CommVault's deferred revenue balance rose 19% Y/Y to $192.8M.
Jan. 29, 2014, 12:46 PM
Jan. 29, 2014, 9:13 AM
CommVault Systems Inc is a provider of data and information management software applications and related services. It develops, markets and sells software applications and services in North America, Europe, Australia and Asia.
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