NEW YORK (TheStreet) -- Shares of CommVault Systems Inc. (CVLT) are plunging, down -30.11% to $47.93, after the data management firm reported that its fiscal fourth quarter profit dropped 7.8%, as expenses grew and revenue increased less than expected.
The company reported a profit of $15.7 million, or 32 cents a share, down from $17 million, or 35 cents a share, a year ago.
Excluding stock-based compensation, provision for income tax adjustment, and other items, its per share earnings climbed to 52 cents from 41 cents.
Revenue gained 13% to $156.8 million.
Analysts polled by Thomson Reuters expected per share earnings of 47 cents and revenue of $160.2 million.
TheStreet Ratings team rates COMMVAULT SYSTEMS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate COMMVAULT SYSTEMS INC (CVLT) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."