CVLT - Commvault: Sell-Off Provides A Buying Opportunity

• Commvault reported a disappointing quarter with revenue and EPS below expectations and provided guidance that fell below expectations.
• The company attributes the revenue miss to large transformation deals that are being pushed out due to hardware delays.
• While the company does not expect hardware delays to persist for a longer time, the company prudently lowered guidance for F3Q and F4Q.
• Commvault software is considered the industry standard and is widely deployed in the enterprise. Its software is an essential bulwark against ransomware attacks. Its Metallic SaaS software is worth watching.
• Compelling valuation, industry-leading position, share gaining ability, and conservative outlook make Commvault a buy. Therefore, we are buying shares on the weakness.

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