Pacific Crest Increases CommVault Systems Price Target to $105.00 (CVLT)
Equities researchers at Pacific Crest hoisted their target price on shares of CommVault Systems (NASDAQ:CVLT) from $92.00 to $105.00 in a research report issued on Thursday, AnalystRatings.Net reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s target price would suggest a potential upside of 18.04% from the stock’s previous close.
CommVault Systems (NASDAQ:CVLT) traded up 2.34% on Thursday, hitting $88.95. The stock had a trading volume of 425,594 shares. CommVault Systems has a 52 week low of $52.84 and a 52 week high of $88.90. The stock has a 50-day moving average of $85.46 and a 200-day moving average of $78.77. The company has a market cap of $4.157 billion and a P/E ratio of 75.06.
CommVault Systems (NASDAQ:CVLT) last released its earnings data on Tuesday, July 30th. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.05. The company had revenue of $134.40 million for the quarter, compared to the consensus estimate of $132.24 million. During the same quarter last year, the company posted $0.30 earnings per share. CommVault Systems’s revenue was up 20.8% compared to the same quarter last year. Analysts expect that CommVault Systems will post $1.71 EPS for the current fiscal year.
In other CommVault Systems news, VP Louis Miceli sold 7,091 shares of CommVault Systems stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $87.95, for a total transaction of $623,653.45. Following the sale, the vice president now directly owns 51,191 shares of the company’s stock, valued at approximately $4,502,248. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Lazard Capital Markets set a $115.00 price target on shares of CommVault Systems (NASDAQ:CVLT) in a research note to investors on Thursday, August 22nd. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of CommVault Systems (NASDAQ:CVLT) from $74.00 to $78.00 in a research note to investors on Thursday, August 1st. They now have a “hold” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of CommVault Systems (NASDAQ:CVLT) from $65.00 to $75.00 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $83.54.
CommVault Systems, Inc (NASDAQ:CVLT) is a provider of data and information management software applications and related services.
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