CommVault Systems (NASDAQ:CVLT) Coverage Initiated by Analysts at Loop Capital

Equities researchers at Loop Capital initiated coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $125.00 price target on the software maker’s stock. Loop Capital’s price target suggests a potential upside of 54.72% from the stock’s current price.

Several other research analysts have also commented on the stock. Truist Financial reissued a “buy” rating and issued a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a research note on Wednesday, January 28th. Cantor Fitzgerald reduced their price objective on CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. DA Davidson cut their price target on CommVault Systems from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Piper Sandler lowered their price objective on CommVault Systems from $186.00 to $155.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. Finally, Guggenheim reduced their target price on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CommVault Systems currently has a consensus rating of “Moderate Buy” and an average price target of $141.38.

CommVault Systems Stock Up 1.7%

Shares of NASDAQ CVLT opened at $80.79 on Tuesday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06. The business’s 50 day moving average is $92.97 and its two-hundred day moving average is $128.70. CommVault Systems has a 52-week low of $76.99 and a 52-week high of $200.68. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 41.64 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The business had revenue of $313.83 million during the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. Research analysts predict that CommVault Systems will post 1.65 EPS for the current year.

Insider Transactions at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 10,338 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $78.96, for a total transaction of $816,288.48. Following the sale, the chief executive officer owned 342,581 shares of the company’s stock, valued at approximately $27,050,195.76. This trade represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 2,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $234,096.04. Following the sale, the insider owned 64,725 shares of the company’s stock, valued at approximately $5,843,373. The trade was a 3.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 31,355 shares of company stock worth $2,613,165. Company insiders own 1.00% of the company’s stock.

Institutional Trading of CommVault Systems

Institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in shares of CommVault Systems in the 2nd quarter valued at $35,000. FNY Investment Advisers LLC purchased a new stake in CommVault Systems in the fourth quarter valued at $36,000. Banque Cantonale Vaudoise acquired a new position in CommVault Systems in the third quarter valued at $39,000. Assetmark Inc. boosted its stake in CommVault Systems by 33.6% in the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after acquiring an additional 82 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

CommVault Systems Company Profile

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.