Stock Story -
What Happened: Shares of data backup provider Commvault (NASDAQ:CVLT) jumped 20.5% in the morning session after the company reported a "beat and raise" quarter. Commvault Systems blew past analysts' revenue, billings, adjusted operating income, and EPS expectations. Looking ahead, guidance was promising as CVLT raised its full-year revenue guidance. Overall, this was a really good quarter that should please shareholders.
Is now the time to buy Commvault Systems? Find out by reading the original article on StockStory, it's free.
What is the market telling us: Commvault Systems's shares are not very volatile than the market average and over the last year have had only 2 moves greater than 5%. Moves this big are very rare for Commvault Systems and that is indicating to us that this news had a significant impact on the market's perception of the business.
The biggest move we wrote about over the last year was 6 months ago, when the stock gained 10% on the news that the company reported a "beat and raise" quarter. Third quarter results exceeded analysts' revenue and EPS expectations. Notably, the company reported double-digit revenue growth, a significant improvement compared to the flat revenue growth reported at the beginning of the fiscal quarter.
Next quarter's revenue guidance also came in higher than Wall Street's estimates, while full-year revenue was raised. Overall, it was a strong quarter for the company.
Commvault Systems is up 88.7% since the beginning of the year, and at $145.54 per share, has set a new 52-week high. Investors who bought $1,000 worth of Commvault Systems's shares 5 years ago would now be looking at an investment worth $3,240.
![Why Commvault Systems (CVLT) Stock Is Trading Up Today](https://d68-invdn-com.investing.com/content/pice500c112a77cbcc5822bd6913797f822.jpeg)