In a report released today, Abhey Lamba from Mizuho Securities maintained a Buy rating on CommVault Systems (NASDAQ: CVLT), with a price target of $75. The company’s shares opened today at $69.40, close to its 52-week high of $71.45.
Lamba noted:
“We expect heightened focus on execution from Commvault this quarter. Expect a largely in-line F4Q18. Rising subscription mix could create noise in results, though guidance likely captures it. License and total revenue could print ~$85-86mm (up 9-10% Y/Y) and $185-188mm (up 11-13% Y/Y) vs. consensus of $86mm and $187mm. Margin estimates of 13.2% seem reasonable. For billings, we expect results ~$200-205mm (up 7-9% Y/Y) as any subscription- based dampening effect shows up in better DR build; consensus is $199mm. For guidance, we expect reiteration of prior FY19 targets.”
According to TipRanks.com, Lamba is a 5-star analyst with an average return of 13.3% and a 68.5% success rate. Lamba covers the Technology sector, focusing on stocks such as Microstrategy Inc, Ultimate Software, and Citrix Systems.
Currently, the analyst consensus on CommVault Systems is Strong Buy and the average price target is $75.29, representing an 8.5% upside.
In a report issued on April 17, KeyBanc also maintained a Buy rating on the stock with a $75 price target.
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The company has a one-year high of $71.45 and a one-year low of $48.35. Currently, CommVault Systems has an average volume of 653.4K.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2018, Armando Geday, a Director at CVLT sold 7,500 shares for a total of $394,425.
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Commvault Systems, Inc. is a data management software company which develops and distributes software applications for data protection, information governance and discovery under the Simpana brand and also simplifies management of data in complex physical, virtual, and cloud storage environment. Its Simpana software is designed to protect, manage, and access data throughout its lifecycle in less time, at lower cost and also helps in enhancing operational efficiency, increase data recoverability and mitigate risk. The Simpana software module includes backup and recovery, deduplication, data archiving, data protection, replication and snapshot management, and storage resource management. Commvault Systems was founded in 1996 and is headquartered in Oceanport, NJ.
