Commvault stock down as Guggenheim downgrades to 'neutral' on growth concerns [Yahoo! Finance]
Commvault Systems, Inc. (CVLT)
Last commvault systems, inc. earnings: 1/29 07:40 am
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ir.commvault.com
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Source: Yahoo! Finance
pre-open trade on Tuesday following a downgrade from Guggenheim Securities, which revised its rating on the data protection software company to "neutral" from "buy.” The downgrade came as the brokerage expressed tempered optimism about the stock's future performance, withdrawing its previous $160 price target. Guggenheim analysts noted that despite the strong year-to-date stock rally, near-term challenges have emerged, particularly within the company's sales channels. Commvault's shares have surged by 113% this year, outperforming key industry benchmarks like the iShares Expanded Tech-Software Sector ETF, which rose 18% in the same period. However, analysts at Guggenheim flagged concerns about recent reseller performance, noting that four out of five partners failed to meet their third-quarter targets. Resellers pointed to increased scrutiny around deals and hesitation in corporate spending as key contributors to the weaker-than-expected finish to the quarter. While full-y
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News
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- Commvault's Growth To Outpace Legacy Competitors Like Dell And IBM, Analyst Says [Yahoo! Finance]Yahoo! Finance
CVLT
Earnings
- 10/29/24 - Beat
CVLT
Sec Filings
- 11/20/24 - Form 4
- 11/20/24 - Form 4
- 11/20/24 - Form 144
- CVLT's page on the SEC website