DA Davidson Cuts CommVault Systems (NASDAQ:CVLT) Price Target to $185.00

by · The Cerbat Gem

CommVault Systems (NASDAQ:CVLT – Get Free Report) had its price objective lowered by analysts at DA Davidson from $220.00 to $185.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective points to a potential upside of 50.98% from the company’s current price.

CVLT has been the subject of several other reports. Truist Financial decreased their price objective on shares of CommVault Systems from $230.00 to $210.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Piper Sandler dropped their price objective on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Zacks Research raised CommVault Systems from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wells Fargo & Company lowered their price objective on CommVault Systems from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CommVault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.33.

Read Our Latest Research Report on CVLT

CommVault Systems Stock Up 2.5%

Shares of NASDAQ:CVLT traded up $3.00 during midday trading on Thursday, hitting $122.54. 112,339 shares of the company’s stock traded hands, compared to its average volume of 556,287. The company has a market cap of $5.40 billion, a PE ratio of 69.05 and a beta of 0.57. CommVault Systems has a twelve month low of $114.46 and a twelve month high of $200.68. The firm’s fifty day moving average price is $123.79 and its two-hundred day moving average price is $156.11. The company has a debt-to-equity ratio of 4.18, a quick ratio of 2.53 and a current ratio of 2.53.

CommVault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The software maker reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). CommVault Systems had a net margin of 7.32% and a return on equity of 31.53%. The firm had revenue of $276.19 million for the quarter, compared to analysts’ expectations of $273.31 million. During the same quarter in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts anticipate that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other CommVault Systems news, insider Gary Merrill sold 1,845 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $122.40, for a total transaction of $225,828.00. Following the completion of the transaction, the insider directly owned 67,318 shares of the company’s stock, valued at approximately $8,239,723.20. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jennifer Leigh Dirico sold 830 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total value of $102,571.40. Following the completion of the sale, the chief financial officer directly owned 44,313 shares in the company, valued at $5,476,200.54. This represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,111 shares of company stock valued at $4,058,851 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Portside Wealth Group LLC lifted its stake in CommVault Systems by 9.6% during the fourth quarter. Portside Wealth Group LLC now owns 5,315 shares of the software maker’s stock valued at $666,000 after buying an additional 466 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in CommVault Systems during the 4th quarter worth about $36,000. Dakota Wealth Management purchased a new position in CommVault Systems during the 4th quarter valued at about $563,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of CommVault Systems by 27.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 166,236 shares of the software maker’s stock worth $20,839,000 after purchasing an additional 35,719 shares in the last quarter. Finally, Byrne Asset Management LLC boosted its holdings in shares of CommVault Systems by 11,125.0% during the fourth quarter. Byrne Asset Management LLC now owns 898 shares of the software maker’s stock worth $113,000 after purchasing an additional 890 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Company Profile

(Get Free Report)

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.

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