Oppenheimer Issues Pessimistic Forecast for CommVault Systems (NASDAQ:CVLT) Stock Price

CommVault Systems (NASDAQ:CVLT) had its price objective reduced by equities researchers at Oppenheimer from $200.00 to $180.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target indicates a potential upside of 45.71% from the stock’s previous close.

Several other research analysts have also issued reports on CVLT. Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Piper Sandler cut their price objective on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. DA Davidson reaffirmed a “buy” rating and issued a $220.00 price objective on shares of CommVault Systems in a research note on Thursday, November 13th. Guggenheim dropped their target price on shares of CommVault Systems from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Finally, Wells Fargo & Company cut their price target on CommVault Systems from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and an average price target of $178.33.

CommVault Systems Stock Up 3.3%

NASDAQ:CVLT opened at $123.53 on Wednesday. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 69.40 and a beta of 0.57. The company has a debt-to-equity ratio of 4.18, a quick ratio of 2.53 and a current ratio of 2.53. The stock’s fifty day moving average price is $123.73 and its two-hundred day moving average price is $155.88. CommVault Systems has a 52-week low of $114.46 and a 52-week high of $200.68.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The firm had revenue of $276.19 million for the quarter, compared to the consensus estimate of $273.31 million. CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.The company’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, analysts anticipate that CommVault Systems will post 1.65 EPS for the current year.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CFO Jennifer Leigh Dirico sold 830 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $102,571.40. Following the sale, the chief financial officer directly owned 44,313 shares in the company, valued at approximately $5,476,200.54. This trade represents a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 13,109 shares of CommVault Systems stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $121.15, for a total transaction of $1,588,155.35. Following the completion of the transaction, the chief executive officer directly owned 359,260 shares in the company, valued at approximately $43,524,349. The trade was a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,111 shares of company stock valued at $4,058,851 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On CommVault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versor Investments LP boosted its stake in shares of CommVault Systems by 158.6% during the 2nd quarter. Versor Investments LP now owns 4,396 shares of the software maker’s stock worth $766,000 after acquiring an additional 2,696 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in CommVault Systems by 15.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637,404 shares of the software maker’s stock valued at $118,481,000 after purchasing an additional 83,906 shares during the last quarter. Vision Capital Management Inc. lifted its holdings in CommVault Systems by 437.5% during the 3rd quarter. Vision Capital Management Inc. now owns 17,194 shares of the software maker’s stock valued at $3,246,000 after purchasing an additional 13,995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in CommVault Systems by 23.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,750 shares of the software maker’s stock worth $305,000 after purchasing an additional 336 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of CommVault Systems by 171.2% in the third quarter. Vontobel Holding Ltd. now owns 15,860 shares of the software maker’s stock valued at $2,994,000 after purchasing an additional 10,012 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About CommVault Systems

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.