Mon, Apr. 13, 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
Tue, Apr. 7, 4:46 PM
- Following data warehousing software vendor Informatica's $5.3B deal to be taken private (follows deals for Tibco and Riverbed), Stifel thinks PC virtualization/thin client software vendor Citrix (NASDAQ:CTXS) could be next on the block. It even goes as far as to argue a $110/share buyout price (nearly 75% above current levels) is possible.
- Mizuho's Abhey Lamba thinks both Citrix and enterprise backup/restore software vendor CommVault (NASDAQ:CVLT) could be targeted. "Both stocks are currently trading around 3x EV/revenue and we would not be surprised to see activist shareholders become more involved if these companies continue having execution issues. Applying the above transaction multiples, CTXS could be valued at $75-100/share and CVLT could be valued at $55-60/share."
- MKM's Kevin Buttigieg also argues Citrix is a possible activist target. "CTXS’ margins have lagged peers through a variety of lenses ... The 2015 reorg goes beyond merely reducing headcount and fixed costs which it should — CTXS needs to change the way it goes to market in order to realize greater synergies across its various product lines."
- Citrix and CommVault both rose fractionally in regular trading. The Citrix M&A speculation comes amid ongoing execution shakeups and departures. Sudhakar Ramakrishna, SVP/GM of Citrix's Enterprise and Service Provider Technology division (a major product strategy role), recently departed, after which Citrix eliminated his position. The GM of Citrix's PC/app virtualization ops also recently left. Long-time sales chief Al Monserrat's departure was announced in January; EMEA sales chief Carlos Sartorius has replaced him.
- Meanwhile, Citrix has announced it's buying Grasshopper, a provider of cloud-based VoIP phone services for SMBs, for an undisclosed sum. Grasshopper, whose solution (like those of peers) requires no hardware installations, claims over 150K customers.
Wed, Jan. 28, 7:46 AM| Comment!
Tue, Jan. 27, 5:30 PM| 1 Comment
Dec. 11, 2014, 10:10 AM
- Citing valuation and tougher competition, Macquarie has downgraded CommVault (CVLT -1.4%) to Neutral. Its target is still $56.
- After posting 20%+ sales growth for much of last year, CommVault is expected to see roughly flat Y/Y growth in the December quarter, and 9.5% growth in FY16 (ends March '16). Following a sizable YTD decline, shares now go for 3.3x FY16E sales.
- CommVault competes against rival storage backup/archiving software vendors such as Symantec, EMC, IBM, and H-P. More recently, it has also had to deal with efforts by storage array vendors to directly integrate backup support into their hardware, thus eliminating the need for a separate (server-based) app for basic backup functionality, and potentially boosting performance.
Oct. 28, 2014, 9:13 AM
Oct. 28, 2014, 7:35 AM| Comment!
Oct. 27, 2014, 5:30 PM
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Jul. 29, 2014, 9:08 AM
Jul. 29, 2014, 7:41 AM| Comment!
Jul. 28, 2014, 5:30 PM
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Apr. 25, 2014, 12:47 PM
Apr. 25, 2014, 10:00 AM
- Fiscal Q4:
- Total revenues: $156.8M (+13%), Software: $79M (+10%), Services: $77.8M (+18%).
- EBIT: $24.9M (+14%).
- Net income: $15.7M (-7.6%)
- CF Ops: $39.9M (-7%).
- 775K shares repurchased for $50M.
- Fiscal 2014:
- Total revenues: $586.3M (+18%), Software: $294.4M (+17%), Services: $291.9M (+19%).
- EBIT: $100.4M (+24%).
- Net income: $64.1M (+20.5%).
- CF Ops: $119.1M (+6%).
- (CVLT -27.7%)
Apr. 25, 2014, 9:13 AM
Apr. 25, 2014, 7:42 AM| Comment!
Apr. 25, 2014, 12:05 AM
CVLT vs. ETF Alternatives
CommVault Systems Inc is a provider of data and information management software applications and related services. It develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia.
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