CommVault Systems (NASDAQ:CVLT) Given New $220.00 Price Target at DA Davidson

Key Points

• DA Davidson has raised the price target for CommVault Systems (CVLT) from $200.00 to $220.00, reflecting a potential upside of 13.83% from the stock's previous close and maintaining a "buy" rating.
• CommVault reported strong quarterly earnings, with $1.03 EPS surpassing estimates and 23.2% year-over-year revenue growth, totaling $275.04 million.
• Insiders, including CEO Sanjay Mirchandani, have recently sold shares, with 4,957 shares traded over the past three months amounting to $859,428 in total sales.

CommVault Systems (NASDAQ:CVLT - Get Free Report) had its price target upped by DA Davidson from $200.00 to $220.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. DA Davidson's price target suggests a potential upside of 22.41% from the company's current price. DA Davidson also issued estimates for CommVault Systems' FY2026 earnings at $1.96 EPS and FY2027 earnings at $2.38 EPS.

Other analysts have also recently issued research reports about the stock. Piper Sandler upped their target price on shares of CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. KeyCorp dropped their target price on shares of CommVault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Guggenheim upgraded shares of CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 target price for the company in a research report on Wednesday, July 16th. Royal Bank Of Canada upped their target price on shares of CommVault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company upped their target price on shares of CommVault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.63.

CommVault Systems Stock Down 5.4%

NASDAQ:CVLT traded down $10.22 during trading hours on Wednesday, hitting $179.73. 515,257 shares of the stock were exchanged, compared to its average volume of 526,881. The company's 50 day moving average is $177.02 and its two-hundred day moving average is $169.07. CommVault Systems has a twelve month low of $127.35 and a twelve month high of $200.68. The company has a market capitalization of $7.99 billion, a P/E ratio of 99.85 and a beta of 0.70.

Insiders Place Their Bets

In other CommVault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,748 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider owned 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CommVault Systems

A number of large investors have recently added to or reduced their stakes in the company. New York Life Investment Management LLC bought a new position in CommVault Systems during the 2nd quarter worth about $799,000. Y Intercept Hong Kong Ltd bought a new position in CommVault Systems during the 2nd quarter worth about $1,313,000. Convergence Investment Partners LLC grew its holdings in shares of CommVault Systems by 69.1% in the 2nd quarter. Convergence Investment Partners LLC now owns 8,664 shares of the software maker's stock valued at $1,510,000 after acquiring an additional 3,540 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of CommVault Systems by 9.6% in the 2nd quarter. Bessemer Group Inc. now owns 5,397 shares of the software maker's stock valued at $941,000 after acquiring an additional 471 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of CommVault Systems by 6,225.0% in the 2nd quarter. AlphaQuest LLC now owns 1,518 shares of the software maker's stock valued at $265,000 after acquiring an additional 1,494 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.