CommVault Systems (CVLT) Earns “Buy” Rating from Lake Street Capital

Lake Street Capital restated their buy rating on shares of CommVault Systems (NASDAQ:CVLT) in a report released on Thursday morning. They currently have a $58.00 target price on the software maker’s stock, down from their prior target price of $60.00.

CVLT has been the subject of a number of other reports. BidaskClub upgraded shares of CommVault Systems from a strong sell rating to a sell rating in a report on Thursday, January 4th. Mizuho restated a buy rating and issued a $75.00 price objective on shares of CommVault Systems in a report on Wednesday, January 17th. Mitsubishi UFJ Financial Group downgraded shares of CommVault Systems from an overweight rating to a neutral rating in a research note on Wednesday, October 25th. Wells Fargo & Co assumed coverage on shares of CommVault Systems in a research note 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. CommVault Systems has a consensus rating of Hold and a consensus target price of $69.78.

Shares of CommVault Systems (NASDAQ CVLT) opened at $54.85 on Thursday. The firm has a market cap of $2,533.25, a P/E ratio of -43.53, a PEG ratio of 67.51 and a beta of 1.44. CommVault Systems has a 1-year low of $47.61 and a 1-year high of $64.60.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. equities analysts forecast that CommVault Systems will post 0.04 EPS for the current year.

CommVault Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, January 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in CommVault Systems by 4.9% in the 2nd quarter. Amalgamated Bank now owns 5,631 shares of the software maker’s stock worth $318,000 after purchasing an additional 263 shares in the last quarter. Nationwide Fund Advisors boosted its stake in CommVault Systems by 0.5% in the 2nd quarter. Nationwide Fund Advisors now owns 92,958 shares of the software maker’s stock worth $5,247,000 after purchasing an additional 486 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in CommVault Systems by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,719 shares of the software maker’s stock worth $1,395,000 after purchasing an additional 848 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in CommVault Systems by 16.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,277 shares of the software maker’s stock worth $354,000 after purchasing an additional 878 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in CommVault Systems by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 90,154 shares of the software maker’s stock worth $5,090,000 after purchasing an additional 937 shares in the last quarter. Institutional investors own 88.27% of the company’s stock.

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CommVault Systems Company Profile

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.

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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