CommVault Systems (CVLT) Stock Rating Reaffirmed by Mizuho

CommVault Systems (NASDAQ:CVLT)‘s stock had its “buy” rating reaffirmed by equities researchers at Mizuho in a research report issued on Wednesday. They presently have a $75.00 price target on the software maker’s stock. Mizuho’s target price points to a potential upside of 43.27% from the stock’s current price.

The analysts wrote, “We reiterate our Buy rating and $75 PT on potential upside to estimates over the NTM driving some multiple expansion from current levels. To the downside, we see an attractive asset with cheap valuation and potential for consolidation in the space. KeyPoints Consensus expectations seem reasonable. We expect license revenue of around $83mm (+15% Y/Y or +5% sequentially), largely in-line with consensus. Total revenue could print around $180-185mm (+8-11% Y/Y or +7-10% sequentially) on incremental flow through of maintenance revenues post pricing realignment and contribution from recent license bookings. Profitability estimates of 13% are in-line with guidance and seem reasonable. CFFO estimates of 18% margin could be slightly on the high side; however, maintenance renewal bookings should help.””

A number of other brokerages have also recently issued reports on CVLT. BidaskClub cut CommVault Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 2nd. Jefferies Group reiterated a “buy” rating on shares of CommVault Systems in a research report on Thursday, October 26th. Zacks Investment Research upgraded CommVault Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. UBS Group cut CommVault Systems from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of CommVault Systems in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.00.

Shares of CommVault Systems (NASDAQ:CVLT) traded down $0.30 during trading on Wednesday, reaching $52.35. The company had a trading volume of 514,600 shares, compared to its average volume of 381,850. CommVault Systems has a fifty-two week low of $47.61 and a fifty-two week high of $64.60. The company has a market cap of $2,431.66, a PE ratio of 1,309.08, a P/E/G ratio of 64.80 and a beta of 1.44.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). CommVault Systems had a net margin of 0.28% and a negative return on equity of 0.17%. The firm had revenue of $168.14 million during the quarter, compared to the consensus estimate of $170.15 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. sell-side analysts expect that CommVault Systems will post 0.04 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CommVault Systems by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock valued at $107,000 after purchasing an additional 203 shares during the period. Riverhead Capital Management LLC grew its stake in shares of CommVault Systems by 70.9% in the second quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock worth $145,000 after acquiring an additional 1,063 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of CommVault Systems in the third quarter worth $201,000. Teacher Retirement System of Texas purchased a new stake in shares of CommVault Systems in the third quarter worth $215,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of CommVault Systems in the second quarter worth $278,000. 88.33% of the stock is owned by institutional investors.

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About CommVault Systems

Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.

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