Why Commvault Systems Stock Plunged More Than 30% Today

Shares of data protection specialist Commvault Systems (NASDAQ: CVLT) tumbled on Tuesday. On the heels of a strong earnings report with uninspiring next-quarter guidance, the stock fell as much as 34.7% in the morning session. As of 3 p.m. ET, Commvault had recovered slightly to a 31.8% drop.Commvault's third-quarter sales rose 19% year over year, landing at $314 million. The average analyst had expected roughly $299 million. On the bottom line, adjusted earnings rose 24% to $1.17 per diluted share. Here, the Street consensus was $0.98.Management's revenue target for the fourth quarter was in line with the current analyst consensus near $306 million. That's not good enough to support a stock trading at 73 times trailing earnings on Monday afternoon, just before the report. Simply put, investors expected better near-term growth prospects.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool