CommVault Systems’ (CVLT) “Buy” Rating Reaffirmed at Mizuho
CommVault Systems (NASDAQ:CVLT)‘s stock had its “buy” rating reiterated by Mizuho in a research report issued on Wednesday. They currently have a $75.00 price target on the software maker’s stock. Mizuho’s price objective suggests a potential upside of 43.27% from the stock’s current price.
The analysts wrote, “We reiterate our Buy rating and $75 PT on potential upside to estimates over the NTM driving some multiple expansion from current levels. To the downside, we see an attractive asset with cheap valuation and potential for consolidation in the space. KeyPoints Consensus expectations seem reasonable. We expect license revenue of around $83mm (+15% Y/Y or +5% sequentially), largely in-line with consensus. Total revenue could print around $180-185mm (+8-11% Y/Y or +7-10% sequentially) on incremental flow through of maintenance revenues post pricing realignment and contribution from recent license bookings. Profitability estimates of 13% are in-line with guidance and seem reasonable. CFFO estimates of 18% margin could be slightly on the high side; however, maintenance renewal bookings should help.””
Several other research analysts have also recently issued reports on CVLT. Zacks Investment Research cut CommVault Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. BidaskClub raised CommVault Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th. Jefferies Group reissued a “buy” rating on shares of CommVault Systems in a research report on Thursday, October 26th. Wells Fargo & Co assumed coverage on CommVault Systems in a research report on Tuesday, November 14th. They issued an “outperform” rating and a $64.00 target price on the stock. Finally, Royal Bank of Canada reissued a “hold” rating on shares of CommVault Systems in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. CommVault Systems has a consensus rating of “Hold” and a consensus target price of $70.00.
CommVault Systems (NASDAQ:CVLT) traded down $0.30 during trading on Wednesday, hitting $52.35. The company had a trading volume of 514,600 shares, compared to its average volume of 381,850. CommVault Systems has a 12 month low of $47.61 and a 12 month high of $64.60. The stock has a market capitalization of $2,431.66, a PE ratio of 1,309.08, a PEG ratio of 64.80 and a beta of 1.44.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). The firm had revenue of $168.14 million during the quarter, compared to analysts’ expectations of $170.15 million. CommVault Systems had a negative return on equity of 0.17% and a net margin of 0.28%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. equities analysts expect that CommVault Systems will post 0.04 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. raised its stake in CommVault Systems by 72.3% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock valued at $4,505,000 after purchasing an additional 31,100 shares during the period. Cortina Asset Management LLC increased its stake in CommVault Systems by 6.1% in the 3rd quarter. Cortina Asset Management LLC now owns 516,158 shares of the software maker’s stock worth $31,382,000 after acquiring an additional 29,894 shares during the last quarter. Bank of New York Mellon Corp increased its stake in CommVault Systems by 36.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock worth $108,173,000 after acquiring an additional 479,659 shares during the last quarter. Ashford Capital Management Inc. bought a new stake in CommVault Systems in the 3rd quarter worth approximately $8,306,000. Finally, FMR LLC bought a new stake in CommVault Systems in the 2nd quarter worth approximately $28,624,000. 88.33% of the stock is currently owned by hedge funds and other institutional investors.
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About CommVault Systems
Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.
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