CommVault Systems, Inc. (NASDAQ:CVLT)‘s stock had its “buy” rating restated by investment analysts at Mizuho in a research report issued to clients and investors on Monday, July 24th, Marketbeat reports. They presently have a $75.00 price target on the software maker’s stock, up from their prior price target of $70.00. Mizuho’s target price points to a potential upside of 27.23% from the stock’s current price.
The analysts wrote, “We expect software revenues of $72-74mm (+14-17% Y/Y) vs. consensus of $72mm while total revenues could come in around $160-164mm (up 5-8% Y/Y or down 2-4% Q/Q) vs. consensus of $160mm. For profitability, we think consensus margin/ EPS expectations of around 9%/$0.19 are reasonable. Billings estimates of $160mm (implying no sequential DR growth) could be conservative; that said, CFFO expectations of $34mm could be slightly on the higher end, though, still achievable. Click here for our detailed preview and model. Checks suggest ongoing large deal momentum. Our conversations indicate that the competitive environment remains tilted in CVLT’s favor, with some displacements of Veritas during the quarter. On discounting, Dell-EMC remains aggressive; however, CVLT continues to exercise price discipline, in our view, with incremental discounting to compete for the largest deals.””
Other research analysts also recently issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and issued a $67.00 price objective on shares of CommVault Systems in a report on Thursday, June 8th. BidaskClub cut CommVault Systems from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Zacks Investment Research raised CommVault Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 target price on shares of CommVault Systems in a research report on Friday, March 31st. Finally, TheStreet cut CommVault Systems from a “b” rating to a “c” rating in a research report on Monday, June 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.00.
CommVault Systems (NASDAQ:CVLT) traded up 2.97% on Monday, hitting $58.95. 277,701 shares of the company’s stock traded hands. The stock has a market cap of $2.68 billion, a P/E ratio of 1034.21 and a beta of 1.45. The stock has a 50 day moving average price of $58.83 and a 200-day moving average price of $54.08. CommVault Systems has a 12 month low of $47.61 and a 12 month high of $64.60.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 25th. The software maker reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. The business had revenue of $165.97 million for the quarter, compared to the consensus estimate of $159.92 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts predict that CommVault Systems will post $1.22 earnings per share for the current fiscal year.
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In other news, insider Al Bunte sold 30,001 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $60.01, for a total value of $1,800,360.01. Following the completion of the sale, the insider now directly owns 474,780 shares of the company’s stock, valued at approximately $28,491,547.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Carolan sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $59.90, for a total value of $239,600.00. Following the completion of the sale, the vice president now directly owns 79,793 shares of the company’s stock, valued at $4,779,600.70. The disclosure for this sale can be found here. Insiders have sold a total of 69,747 shares of company stock valued at $4,111,755 over the last ninety days. 13.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in CommVault Systems by 1.0% in the second quarter. BlackRock Inc. now owns 4,282,750 shares of the software maker’s stock valued at $241,762,000 after buying an additional 43,400 shares during the last quarter. Vanguard Group Inc. increased its position in CommVault Systems by 0.9% in the second quarter. Vanguard Group Inc. now owns 3,381,007 shares of the software maker’s stock valued at $190,857,000 after buying an additional 29,189 shares during the last quarter. Renaissance Technologies LLC increased its position in CommVault Systems by 32.0% in the second quarter. Renaissance Technologies LLC now owns 1,555,213 shares of the software maker’s stock valued at $87,792,000 after buying an additional 377,313 shares during the last quarter. Victory Capital Management Inc. increased its position in CommVault Systems by 4.6% in the first quarter. Victory Capital Management Inc. now owns 1,490,921 shares of the software maker’s stock valued at $75,739,000 after buying an additional 65,125 shares during the last quarter. Finally, State Street Corp increased its position in CommVault Systems by 1.8% in the first quarter. State Street Corp now owns 1,374,928 shares of the software maker’s stock valued at $69,850,000 after buying an additional 24,071 shares during the last quarter. 88.36% of the stock is owned by hedge funds and other institutional investors.
About CommVault Systems
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