Share on StockTwits
 

Equities research analysts at Oppenheimer started coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.

The analysts wrote, “We’re initiating coverage of backup and recovery software specialist CommVault with a Perform rating. We’re attracted to the story given: (1) its strong position in the evolving backup and recovery software market; (2) TAM expansion opportunities with the latest version of its Simpana OS (v10); and (3) the potential to address the big data analytics in 2014. That said, we believe CommVault needs to deliver significantly above-Street to justify its high valuation and we see three near-term potential headwinds we’d like out of the way before turning constructive on the shares. These include: (1) an evolving licensing model; (2) higher OpEx associated with new sales and marketing initiatives; and (3) a potential erosion of largest partner Dell.”

Shares of CommVault Systems (NASDAQ:CVLT) opened at 72.58 on Wednesday. CommVault Systems has a 52-week low of $64.01 and a 52-week high of $90.00. The stock’s 50-day moving average is $78.7 and its 200-day moving average is $80.59. The company has a market cap of $3.432 billion and a price-to-earnings ratio of 60.43.

CommVault Systems (NASDAQ:CVLT) last released its earnings data on Tuesday, October 29th. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.08. The company had revenue of $141.90 million for the quarter, compared to the consensus estimate of $140.11 million. During the same quarter last year, the company posted $0.38 earnings per share. CommVault Systems’s revenue was up 20.1% compared to the same quarter last year. Analysts expect that CommVault Systems will post $1.79 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on CVLT. Analysts at Monness Crespi & Hardt initiated coverage on shares of CommVault Systems in a research note to investors on Monday, November 25th. They set a “buy” rating and a $90.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of CommVault Systems in a research note to investors on Wednesday, October 30th. They now have a $78.00 price target on the stock. Finally, analysts at Needham & Company raised their price target on shares of CommVault Systems from $90.00 to $92.00 in a research note to investors on Wednesday, October 30th. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. CommVault Systems has an average rating of “Hold” and a consensus target price of $82.31.

CommVault Systems, Inc (NASDAQ:CVLT) is a provider of data and information management software applications and related services.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.