Commvault Systems, Inc. (NASDAQ:CVLT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $134.29.

Several equities research analysts have recently issued reports on the stock. Lake Street Capital increased their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Piper Sandler boosted their price objective on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. DA Davidson increased their target price on Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, KeyCorp boosted their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st.

Commvault Systems Trading Down 0.7 %

Shares of CVLT opened at $150.41 on Friday. Commvault Systems has a twelve month low of $63.70 and a twelve month high of $156.00. The firm has a market capitalization of $6.58 billion, a P/E ratio of 40.00 and a beta of 0.61. The stock’s fifty day simple moving average is $133.71 and its 200 day simple moving average is $113.54.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same period last year, the business posted $0.29 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Sell-side analysts predict that Commvault Systems will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Xponance Inc. boosted its stake in shares of Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after buying an additional 79 shares during the last quarter. EFG Asset Management North America Corp. boosted its stake in Commvault Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after acquiring an additional 103 shares during the last quarter. Natixis Advisors LLC boosted its stake in Commvault Systems by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after acquiring an additional 138 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Commvault Systems by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after acquiring an additional 139 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after purchasing an additional 153 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other 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.