CommVault Systems, Inc. (CVLT) Receives Buy Rating from Mizuho
CommVault Systems, Inc. (NASDAQ:CVLT)‘s stock had its “buy” rating reissued by equities research analysts at Mizuho in a research report issued to clients and investors on Monday. They presently have a $70.00 price objective on the software maker’s stock. Mizuho’s target price indicates a potential upside of 14.66% from the stock’s current price.
The analysts wrote, “We expect software revenues of $72-74mm (+14-17% Y/Y) vs. consensus of $72mm while total revenues could come in around $160-164mm (up 5-8% Y/Y or down 2-4% Q/Q) vs. consensus of $160mm. For profitability, we think consensus margin/ EPS expectations of around 9%/$0.19 are reasonable. Billings estimates of $160mm (implying no sequential DR growth) could be conservative; that said, CFFO expectations of $34mm could be slightly on the higher end, though, still achievable. Click here for our detailed preview and model. Checks suggest ongoing large deal momentum. Our conversations indicate that the competitive environment remains tilted in CVLT’s favor, with some displacements of Veritas during the quarter. On discounting, Dell-EMC remains aggressive; however, CVLT continues to exercise price discipline, in our view, with incremental discounting to compete for the largest deals.””
Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of CommVault Systems from a “c” rating to a “b” rating in a research note on Monday, April 24th. Jefferies Group LLC reiterated a “buy” rating and set a $67.00 price objective on shares of CommVault Systems in a research report on Friday, July 14th. Lake Street Capital upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, ValuEngine upgraded shares of CommVault Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.11.
CommVault Systems (NASDAQ CVLT) traded up 1.33% during mid-day trading on Monday, hitting $61.05. 772,709 shares of the stock were exchanged. CommVault Systems has a 52 week low of $47.44 and a 52 week high of $61.20. The company has a 50-day moving average of $57.39 and a 200-day moving average of $53.37. The stock has a market capitalization of $2.74 billion, a PE ratio of 6105.00 and a beta of 1.44.
CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Wednesday, May 3rd. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.27. The company had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $166.32 million. CommVault Systems had a net margin of 0.08% and a negative return on equity of 1.04%. CommVault Systems’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. On average, equities analysts predict that CommVault Systems will post $1.19 EPS for the current fiscal year.
In related news, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $59.90, for a total transaction of $239,600.00. Following the completion of the sale, the vice president now owns 79,793 shares in the company, valued at approximately $4,779,600.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ronald L. Miiller sold 90,500 shares of CommVault Systems stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $57.50, for a total transaction of $5,203,750.00. Following the sale, the senior vice president now owns 137,409 shares of the company’s stock, valued at approximately $7,901,017.50. The disclosure for this sale can be found here. Insiders have sold a total of 177,730 shares of company stock valued at $10,133,388 in the last quarter. 13.40% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of CommVault Systems by 23,286.9% in the first quarter. BlackRock Inc. now owns 4,239,350 shares of the software maker’s stock worth $215,359,000 after buying an additional 4,221,223 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CommVault Systems by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,351,818 shares of the software maker’s stock worth $170,273,000 after buying an additional 160,321 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of CommVault Systems by 4.6% in the first quarter. Victory Capital Management Inc. now owns 1,490,921 shares of the software maker’s stock worth $75,739,000 after buying an additional 65,125 shares during the last quarter. State Street Corp increased its position in CommVault Systems by 1.8% in the first quarter. State Street Corp now owns 1,374,928 shares of the software maker’s stock worth $69,850,000 after buying an additional 24,071 shares during the period. Finally, Mackenzie Financial Corp increased its position in CommVault Systems by 1.8% in the first quarter. Mackenzie Financial Corp now owns 1,316,588 shares of the software maker’s stock worth $66,883,000 after buying an additional 23,088 shares during the period. Institutional investors own 89.25% of the company’s stock.
About CommVault Systems
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