Commvault Systems, Inc. (NASDAQ:CVLT) Receives $71.33 Consensus Price Target from Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $71.33.

A number of research firms recently weighed in on CVLT. Needham & Company LLC upped their price objective on shares of Commvault Systems from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, May 5th. KeyCorp reaffirmed an “overweight” rating on shares of Commvault Systems in a research report on Thursday, April 29th. Zacks Investment Research downgraded shares of Commvault Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, May 12th. Lake Street Capital upped their price objective on shares of Commvault Systems from $68.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, May 5th. Finally, Piper Sandler upped their price objective on shares of Commvault Systems from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 12th.

CVLT stock traded up $0.37 during midday trading on Tuesday, hitting $81.24. The stock had a trading volume of 2,046 shares, compared to its average volume of 372,057. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -118.92, a P/E/G ratio of 7.38 and a beta of 0.71. Commvault Systems has a 1-year low of $36.50 and a 1-year high of $80.97. The company’s fifty day moving average price is $70.69.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, May 4th. The software maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.11. Commvault Systems had a negative net margin of 4.28% and a positive return on equity of 7.93%. The company had revenue of $191.34 million for the quarter, compared to analyst estimates of $182.37 million. During the same quarter in the prior year, the business posted $0.30 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts expect that Commvault Systems will post 1.07 EPS for the current fiscal year.

In related news, VP Blasio Riccardo Di sold 4,941 shares of the firm’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $73.88, for a total value of $365,041.08. Following the completion of the transaction, the vice president now directly owns 79,511 shares of the company’s stock, valued at approximately $5,874,272.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $67.88, for a total transaction of $339,400.00. Following the completion of the transaction, the chief executive officer now directly owns 279,003 shares of the company’s stock, valued at $18,938,723.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,861 shares of company stock valued at $6,127,128. 1.01% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eudaimonia Partners LLC purchased a new stake in Commvault Systems in the 1st quarter worth approximately $43,000. Altshuler Shaham Ltd purchased a new stake in shares of Commvault Systems during the 1st quarter valued at $65,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Commvault Systems during the 1st quarter valued at $77,000. FORA Capital LLC bought a new position in shares of Commvault Systems during the 1st quarter valued at $78,000. Finally, Lazard Asset Management LLC bought a new stake in Commvault Systems in the 1st quarter worth $121,000. Institutional investors and hedge funds own 93.71% of the company’s stock.

Commvault Systems Company Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.

Featured Story: The risks of owning bonds

Analyst Recommendations for Commvault Systems (NASDAQ:CVLT)

Receive News & Ratings for Commvault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commvault Systems and related companies with MarketBeat.com's FREE daily email newsletter.