Commvault systems reports quarterly growth, exceeds expectations
Commvault Systems Inc. (NASDAQ: CVLT) has released an impressive report for the fourth quarter of fiscal year 2024, showcasing significant revenue growth and surpassing Wall Street’s sales forecasts. The company’s financial performance for the quarter ending 31 March 2024 included a 10% increase in revenue to USD 223.3 million. Over the entire fiscal year, Commvault’s revenue rose by 7% to USD 839.2 million, with earnings per share reaching 2.98 USD.
A particularly encouraging aspect of the report was the 23% rise in subscription sales, amounting to USD 429.2 million, coupled with an operating cash flow nearing USD 203.8 million. These figures underscore Commvault’s robust financial health and its successful business model adaptation.
Exploring investment opportunities, let’s delve into the technical analysis of Commvault Systems Inc. (NASDAQ: CVLT):
On the Daily (D1) timeframe, the stock has recently surpassed resistance at 98.60 USD, setting new support at 96.30 USD and reaching an all-time high. The stock exhibits a stable uptrend. Any break below the new support level could indicate a potential trend reversal. However, a correction back to the recently breached resistance level, followed by a continuation of the upward trend, seems likely. If the trend were to shift downwards, the next target could be around 90.50 USD.
The new resistance at 98.60 USD with a short-term target of 107.50 USD could be considerable. A medium-term target - up to 117.00 USD.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
A particularly encouraging aspect of the report was the 23% rise in subscription sales, amounting to USD 429.2 million, coupled with an operating cash flow nearing USD 203.8 million. These figures underscore Commvault’s robust financial health and its successful business model adaptation.
Exploring investment opportunities, let’s delve into the technical analysis of Commvault Systems Inc. (NASDAQ: CVLT):
On the Daily (D1) timeframe, the stock has recently surpassed resistance at 98.60 USD, setting new support at 96.30 USD and reaching an all-time high. The stock exhibits a stable uptrend. Any break below the new support level could indicate a potential trend reversal. However, a correction back to the recently breached resistance level, followed by a continuation of the upward trend, seems likely. If the trend were to shift downwards, the next target could be around 90.50 USD.
The new resistance at 98.60 USD with a short-term target of 107.50 USD could be considerable. A medium-term target - up to 117.00 USD.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
