Commvault Systems - CVLT Stock Forecast, Price & News

Commvault Systems, Inc. provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution. It also provides Commvault HyperScale X, an easy-to-deploy scale-out solution; Commvault Distributed Storage Platform that offers software-defined storage built on a hyperscale architecture; Metallic Cloud Storage service, which is the easy button to adopt secure and scalable cloud storage; and Metallic Software-as-a-Service. In addition, the company provides technology and business consulting, education, and remote managed services. Further, it sells appliances that integrate the software with hardware for use in a range of business needs and use cases; and offers professional and customer support services that include data management-as-a-service under the Metallic brand. The company sells its products and services directly through its sales force, and indirectly through its network of distributors, value-added resellers, systems integrators, corporate resellers, and original equipment manufacturers to large enterprises, small and medium sized businesses, and government agencies. It supports customers in a range of industries, including banking, insurance and financial services, government, healthcare, pharmaceuticals and medical services, technology, legal, manufacturing, utilities, and energy. Commvault Systems, Inc. was founded in 1988 and is headquartered in Tinton Falls, New Jersey.

Analyst Upgrades and Downgrades

CVLT has been the subject of several research reports. Wells Fargo & Company cut their price target on Commvault Systems to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. Piper Sandler downgraded Commvault Systems from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $78.00 to $69.00 in a research note on Wednesday, July 13th. Finally, Lake Street Capital cut their price target on Commvault Systems from $68.00 to $64.00 in a research note on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.67.

Commvault Systems Stock Performance

Commvault Systems stock traded up $0.67 during midday trading on Monday, reaching $60.53. 237,766 shares of the company were exchanged, compared to its average volume of 260,338. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 121.06, a P/E/G ratio of 10.10 and a beta of 0.51. The firm's 50-day simple moving average is $60.79 and its 200-day simple moving average is $62.43. Commvault Systems has a 1 year low of $53.87 and a 1 year high of $84.22.

Commvault Systems (NASDAQ:CVLT - Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $197.90 million during the quarter, compared to analysts' expectations of $195.21 million. Commvault Systems had a return on equity of 13.33% and a net margin of 2.96%. The firm's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. On average, analysts forecast that Commvault Systems will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 16,141 shares of Commvault Systems stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $61.46, for a total value of $992,025.86. Following the completion of the sale, the chief executive officer now owns 494,283 shares in the company, valued at approximately $30,378,633.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sanjay Mirchandani sold 16,141 shares of the business's stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $61.46, for a total transaction of $992,025.86. Following the completion of the sale, the chief executive officer now owns 494,283 shares in the company, valued at approximately $30,378,633.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James J. Whalen sold 1,662 shares of the business's stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $64.31, for a total value of $106,883.22. Following the sale, the chief accounting officer now owns 29,616 shares of the company's stock, valued at approximately $1,904,604.96. The disclosure for this sale can be found here. Insiders sold 34,985 shares of company stock worth $2,216,255 in the last 90 days. 0.99% of the stock is owned by company insiders.