DA Davidson Lowers CommVault Systems (NASDAQ:CVLT) Price Target to $200.00

CommVault Systems (NASDAQ:CVLT) had its target price lowered by equities research analysts at DA Davidson from $215.00 to $200.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. DA Davidson’s target price would indicate a potential upside of 17.06% from the stock’s previous close.

CVLT has been the subject of a number of other reports. Guggenheim upgraded CommVault Systems from a “neutral” rating to a “buy” rating and set a $210.00 price target for the company in a report on Wednesday. Piper Sandler raised their price target on CommVault Systems from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Oppenheimer increased their price target on CommVault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price target on CommVault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $189.13.

CommVault Systems Stock Performance

CommVault Systems stock opened at $170.85 on Wednesday. The stock’s 50 day moving average price is $177.51 and its 200 day moving average price is $167.50. The firm has a market capitalization of $7.61 billion, a PE ratio of 101.10 and a beta of 0.73. CommVault Systems has a one year low of $119.67 and a one year high of $192.01.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period in the previous year, the business earned $0.79 EPS. CommVault Systems’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts forecast that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the transaction, the chief executive officer directly owned 469,648 shares of the company’s stock, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicola Adamo sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the transaction, the director directly owned 16,178 shares in the company, valued at $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock valued at $859,428 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vision Capital Management Inc. acquired a new stake in shares of CommVault Systems during the 2nd quarter worth approximately $558,000. ST Germain D J Co. Inc. acquired a new position in CommVault Systems in the second quarter worth $142,000. Congress Asset Management Co. boosted its stake in CommVault Systems by 1.9% in the second quarter. Congress Asset Management Co. now owns 570,888 shares of the software maker’s stock worth $99,523,000 after purchasing an additional 10,446 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of CommVault Systems during the second quarter worth $729,000. Finally, Occidental Asset Management LLC raised its position in shares of CommVault Systems by 5.9% during the second quarter. Occidental Asset Management LLC now owns 2,044 shares of the software maker’s stock worth $356,000 after acquiring an additional 113 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.