DA Davidson Increases CommVault Systems (NASDAQ:CVLT) Price Target to $220.00

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 hoisted by analysts at DA Davidson from $200.00 to $220.00 in a report released 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 19.25% from the company's previous close. 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 issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Piper Sandler raised their price objective on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. KeyCorp lowered their price target on shares of CommVault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Oppenheimer raised their price target on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Guggenheim raised shares of CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $205.63.

CommVault Systems Trading Down 2.9%

NASDAQ:CVLT traded down $5.46 during mid-day trading on Wednesday, hitting $184.49. The company's stock had a trading volume of 79,451 shares, compared to its average volume of 494,980. CommVault Systems has a fifty-two week low of $127.35 and a fifty-two week high of $200.68. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 102.46 and a beta of 0.73. The stock has a fifty day moving average of $176.91 and a 200-day moving average of $168.83.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. The firm had revenue of $275.04 million during the quarter, compared to analyst estimates of $262.52 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. The company's quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP lifted its position in CommVault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after acquiring an additional 151 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in CommVault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Whipplewood Advisors LLC lifted its position in CommVault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after acquiring an additional 146 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in CommVault Systems in the 1st quarter valued at $27,000. Finally, Brooklyn Investment Group lifted its position in CommVault Systems by 8,550.0% in the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker's stock valued at $27,000 after acquiring an additional 171 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

About CommVault Systems

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.