Oppenheimer Lowers CommVault Systems (NASDAQ:CVLT) Price Target to $180.00

CommVault Systems (NASDAQ:CVLT) had its price objective dropped by Oppenheimer from $200.00 to $180.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price indicates a potential upside of 52.26% from the company’s current price.

Several other research firms have also recently weighed in on CVLT. Mizuho decreased their target price on shares of CommVault Systems from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday. KeyCorp decreased their price objective on CommVault Systems from $185.00 to $152.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. DA Davidson reissued a “buy” rating and set a $220.00 target price on shares of CommVault Systems in a report on Thursday, November 13th. Piper Sandler lowered their price target on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. Finally, Baird R W raised shares of CommVault Systems to a “strong-buy” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.25.

CommVault Systems Price Performance

Shares of CVLT stock traded up $1.28 during trading hours on Wednesday, hitting $118.22. The company had a trading volume of 136,698 shares, compared to its average volume of 558,011. The firm’s fifty day moving average is $123.96 and its 200 day moving average is $156.37. CommVault Systems has a 12 month low of $114.46 and a 12 month high of $200.68. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 66.42 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.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 28th. The software maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The business had revenue of $276.19 million for the quarter, compared to analyst estimates of $273.31 million. CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.CommVault Systems’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. On average, sell-side analysts predict that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jennifer Leigh Dirico sold 830 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total transaction of $102,571.40. Following the completion of the sale, the chief financial officer owned 44,313 shares in the company, valued at $5,476,200.54. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 13,109 shares of CommVault Systems stock in a transaction dated 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 transaction, the chief executive officer owned 359,260 shares of the company’s stock, valued at $43,524,349. This represents a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,111 shares of company stock valued at $4,058,851. 1.00% of the stock is currently owned by insiders.

Institutional Trading of CommVault Systems

A number of hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at about $35,000. FNY Investment Advisers LLC bought a new position in CommVault Systems in the 4th quarter worth $36,000. Banque Cantonale Vaudoise bought a new position in CommVault Systems in the 3rd quarter worth approximately $39,000. Cullen Frost Bankers Inc. grew its stake in CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after acquiring an additional 74 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in CommVault Systems by 2,950.0% during the third quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock valued at $46,000 after buying an additional 236 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.