DA Davidson Boosts Commvault Systems (NASDAQ:CVLT) Price Target to $125.00

Commvault Systems (NASDAQ:CVLT) had its price objective boosted by DA Davidson from $115.00 to $125.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock. DA Davidson also issued estimates for Commvault Systems’ Q1 2025 earnings at $0.29 EPS, FY2025 earnings at $1.56 EPS and FY2026 earnings at $1.71 EPS.

CVLT has been the subject of a number of other reports. Lake Street Capital boosted their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a hold rating in a report on Wednesday. KeyCorp upped their price target on Commvault Systems from $109.00 to $122.00 and gave the company an overweight rating in a report on Wednesday. Finally, Royal Bank of Canada increased their price objective on Commvault Systems from $97.00 to $112.00 and gave the company a sector perform rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $114.25.

Commvault Systems Stock Performance

CVLT opened at $107.43 on Wednesday. The stock has a market capitalization of $4.70 billion, a PE ratio of 28.57 and a beta of 0.64. The stock’s 50 day moving average price is $98.47 and its 200-day moving average price is $84.99. Commvault Systems has a 52-week low of $60.43 and a 52-week high of $109.25.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The business had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $208.01 million. During the same period in the previous year, the firm posted $0.17 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Commvault Systems will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,306 shares of company stock valued at $2,276,265. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in Commvault Systems by 0.6% in the 4th quarter. Amalgamated Bank now owns 27,504 shares of the software maker’s stock worth $2,196,000 after buying an additional 160 shares during the period. State of Michigan Retirement System lifted its position in shares of Commvault Systems by 1.9% in the first quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock valued at $1,087,000 after acquiring an additional 200 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Commvault Systems by 5.4% in the third quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock worth $307,000 after acquiring an additional 231 shares during the period. M&T Bank Corp grew its position in shares of Commvault Systems by 5.4% during the fourth quarter. M&T Bank Corp now owns 4,647 shares of the software maker’s stock worth $371,000 after purchasing an additional 240 shares in the last quarter. Finally, Strs Ohio raised its stake in Commvault Systems by 1.8% during the 3rd quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock valued at $1,122,000 after purchasing an additional 300 shares during the period. 93.50% of the stock is currently 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.