Piper Jaffray analyst Andrew Nowinski reiterated a Buy rating on CommVault Systems (NASDAQ: CVLT) yesterday and set a price target of $77. The company’s shares opened today at $65.75.
According to TipRanks.com, Nowinski is a 4-star analyst with an average return of 11.1% and a 57.1% success rate. Nowinski covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and FireEye Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for CommVault Systems with a $76.40 average price target, which is a 16.2% upside from current levels. In a report released today, Jefferies also maintained a Buy rating on the stock with a $80 price target.
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Based on CommVault Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.57 million. In comparison, last year the company had a GAAP net loss of $284K.
Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Gary Merrill, the CAO of CVLT sold 13,474 shares for a total of $919,560.
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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.
