CommVault Systems (CVLT) Receives a Hold from RBC Capital

By Carrie Williams

RBC Capital analyst Dan Bergstrom maintained a Hold rating on CommVault Systems (CVLTResearch Report) yesterday and set a price target of $48.00. The company’s shares closed last Thursday at $42.75.

According to TipRanks.com, Bergstrom is a 4-star analyst with an average return of 24.2% and a 72.7% success rate. Bergstrom covers the Technology sector, focusing on stocks such as Verint Systems, Nice-Systems, and Fortinet.

CommVault Systems has an analyst consensus of Strong Buy, with a price target consensus of $50.75.

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Based on CommVault Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $165 million and net profit of $8.94 million. In comparison, last year the company earned revenue of $162 million and had a GAAP net loss of $6.85 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is neutral on the stock. Last month, Frank Fanzilli, a Director at CVLT bought 7,500 shares for a total of $201,225.

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Commvault Systems, Inc. engages in the provision of data protection and information management software applications and related services. It products include Complete back up and recovery, Hyperscale, Activate, and Orchestrate. IT also offers professional, managed, support, and training services. The company was founded in 1996 and is headquartered in Tinton Falls, NJ.