JMP Securities analyst Patrick Walravens this morning cut his rating on CommVault (CVLT) to Market Perform from Market Outperform, noting that the stock has topped his $25 price target after a 19% move for the year to date.
Walravens notes that the stock is trading at 36x estimated calendar 2011 EPS, [...]
Article courtesy of BARRONS.com: Tech Trader Daily
CommVault (CVLT) this morning posted better-than-expected results for its fiscal second quarter ended September 30.
For the quarter, the data storage software company reported revenue of $75.2 million and non-GAAP profits of 19 cents a share; the Street had expected $73.8 million or 18 cents. Revenues were up 13% from a [...]
Article courtesy of BARRONS.com: Tech Trader Daily
With Dell (DELL) conceding defeat to Hewlett-Packard (HPQ) in the bidding war for 3Par (PAR), the Street has returned to the business of trying to find the company something else to buy.
The Street’s suggested shopping list:
Compellent (CML) is up 99 cents, or 6.6%, to $16.
CommVault (CVLT) is up $1.11, or [...]
Article courtesy of BARRONS.com: Tech Trader Daily
As the bidding war between Dell (DELL) and Hewlett-Packard (HPQ) for 3Par (PAR) continues, investors remain on the hunt for other potential acquisitions targets in the storage sector:
Compellent (CML) this morning is up $1.10, or 7.4%, to $16.01. For the week, the stock is up 14.8%.
CommVault (CVLT) today is up [...]
Article courtesy of BARRONS.com: Tech Trader Daily
CommVault (CVLT) this morning posted results for its fiscal first quarter ended June 30 that were in line with the pre-announcement the company issued on July 12.
As the company had expected, it reported revenue of $66.3 million and non-GAAP profits of 11 cents.
The data storage software company said its board [...]
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CommVault (CVLT) late Monday warned that its results for the fiscal first quarter ended June will fall short of Street forecasts. The data storage software company sees Q1 revenue of $66.3 million; the Street has been expecting $71.6 million. The company’s estimate would be up 10% from a year, but [...]
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William Blair analyst Jason Ader late Monday launched coverage of CommVault (CVLT) with an Outperform rating, asserting that the storage software company is “a classic share-gain story.”
He cites three reason for his bullish stance on the stock.
The strength and breadth of its product offering.
A broadening distribution story.
“A competitive field that [...]
Article courtesy of BARRONS.com: Tech Trader Daily
CommVault (CVLT) shares are trading higher on strong results for its fiscal fourth quarter ended March 31.
The storage systems company reported Q4 revenue of $73.4 million, up 4% sequentially, 31% higher than a year ago, and above the Street at $72.7 million. Non-GAAP profits of 21 cents a share beat [...]
Article courtesy of BARRONS.com: Tech Trader Daily
Goldman Sachs analyst Derek Bingham this morning bumped CommVault (CVLT) from the company’s Convction Buy List, adding Autodesk (ADSK) in its place. CVLT remains Buy rated, though.
“Although we continue to favor CommVault, we currently see greater near-term upside surprise from Autodesk,” he writes in a research note. Bingham raised his target on ADSK to $35, from $33, “to reflect greater confidence in our estimates.”
Bingham says that Autodesk “is only in the first inning of its improvement that will drive the operating margin back to the mid-to-high 20% level, and potentially beyond, from 17%” in the January 2010 fiscal year. “We expect that incremental macro data will more often than not show improvement,” he writes. “We also believe there is still a healthy degree of skepticism among the investment community on the name.”
This morning:
Article courtesy of BARRONS.com: Tech Trader Daily