Fintel reports that on August 2, 2023, RBC Capital maintained coverage of Commvault Systems (NASDAQ:CVLT) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 8.05% Downside
As of August 2, 2023, the average one-year price target for Commvault Systems is 71.66. The forecasts range from a low of 62.62 to a high of $90.30. The average price target represents a decrease of 8.05% from its latest reported closing price of 77.93.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Commvault Systems is 867MM, an increase of 10.52%. The projected annual non-GAAP EPS is 3.07.
What is the Fund Sentiment?
There are 653 funds or institutions reporting positions in Commvault Systems. This is an increase of 1 owner(s) or 0.15% in the last quarter. Average portfolio weight of all funds dedicated to CVLT is 0.18%, a decrease of 0.70%. Total shares owned by institutions decreased in the last three months by 3.56% to 47,382K shares. 
The put/call ratio of CVLT is 1.06, indicating a bearish outlook.
What are Other Shareholders Doing?
Mackenzie Financial holds 2,295K shares representing 5.22% ownership of the company. In it's prior filing, the firm reported owning 2,274K shares, representing an increase of 0.88%. The firm decreased its portfolio allocation in CVLT by 15.75% over the last quarter.
Alliancebernstein holds 2,214K shares representing 5.03% ownership of the company. In it's prior filing, the firm reported owning 2,782K shares, representing a decrease of 25.66%. The firm decreased its portfolio allocation in CVLT by 31.59% over the last quarter.
Starboard Value holds 1,589K shares representing 3.61% ownership of the company. In it's prior filing, the firm reported owning 1,546K shares, representing an increase of 2.68%. The firm decreased its portfolio allocation in CVLT by 2.45% over the last quarter.
Renaissance Technologies holds 1,554K shares representing 3.53% ownership of the company. In it's prior filing, the firm reported owning 1,586K shares, representing a decrease of 2.03%. The firm decreased its portfolio allocation in CVLT by 14.16% over the last quarter.
Neuberger Berman Group holds 1,406K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 1,170K shares, representing an increase of 16.75%. The firm increased its portfolio allocation in CVLT by 2.60% over the last quarter.
Commvault Systems Background Information
(This description is provided by the company.)
Commvault is the recognized leader in data backup and recovery. Commvault's converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset - their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets orldwide and is headquartered in Tinton Falls, New Jersey in the United States.
Additional reading:
- Commvault Announces Fiscal 2024 First Quarter Financial Results
- DESCRIPTION OF SECURITIES
- Subsidiaries of Commvault Systems, Inc. Subsidiary Jurisdiction of Organization Advanced Data Life Cycle Management Inc. Delaware Commvault Tinton Falls Urban Renewal LLC Delaware Hedvig, Inc. Delaware Commvault Systems (Puerto Rico) LLC Puerto Rico
- TERMINATION OF AGREEMENT OF SALE
- Commvault Announces Fiscal 2023 Fourth Quarter Financial Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
