Brokerages Set CommVault Systems, Inc. (NASDAQ:CVLT) PT at $64.50

CommVault Systems, Inc. (NASDAQ:CVLT) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $64.50.

CVLT has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Lake Street Capital downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $69.00 to $60.00 in a report on Tuesday, April 30th. Jefferies Financial Group dropped their price objective on shares of CommVault Systems to $65.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Mitsubishi UFJ Financial Group dropped their price objective on shares of CommVault Systems from $74.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th.

Shares of NASDAQ CVLT traded down $0.76 during mid-day trading on Tuesday, reaching $49.54. 346,745 shares of the company were exchanged, compared to its average volume of 497,451. CommVault Systems has a 52 week low of $45.53 and a 52 week high of $70.70. The stock has a market cap of $2.27 billion, a PE ratio of 82.57, a PEG ratio of 7.16 and a beta of 1.16. The stock has a 50 day moving average of $48.65.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. CommVault Systems had a net margin of 0.50% and a return on equity of 6.30%. The company had revenue of $181.40 million during the quarter, compared to the consensus estimate of $189.02 million. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that CommVault Systems will post 0.45 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CVLT. Fort L.P. purchased a new position in CommVault Systems in the 4th quarter worth $31,000. Captrust Financial Advisors raised its position in CommVault Systems by 161.5% in the 4th quarter. Captrust Financial Advisors now owns 1,080 shares of the software maker’s stock worth $64,000 after purchasing an additional 667 shares during the period. Anderson Fisher LLC purchased a new position in CommVault Systems in the 1st quarter worth $106,000. First Mercantile Trust Co. raised its position in CommVault Systems by 13.8% in the 1st quarter. First Mercantile Trust Co. now owns 2,251 shares of the software maker’s stock worth $146,000 after purchasing an additional 273 shares during the period. Finally, Parametrica Management Ltd purchased a new position in CommVault Systems in the 1st quarter worth $211,000. Institutional investors own 89.83% of the company’s stock.

About CommVault Systems

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. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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