CVLT Stock Summary and Trading Ideas (Commvault Systems | NASDAQ:CVLT)

CommVault Systems Inc provides data and information management software applications and services. The firm sells software licenses and services to large global enterprises, small- and midsize businesses, and government agencies through both its salesforce and its network of reseller partners. Its software solutions include Commvault Complete Backup and Recovery, HyperScale, Hedvig, and Metallic. The company operates in the United States and exports to many other countries.

Commvault Systems trades on the NASDAQ stock market under the symbol CVLT.

As of April 19, 2024, CVLT stock price declined to $93.97 with 20,382 million shares trading.

CVLT has a beta of 1.23, meaning it tends to be more sensitive to market movements. CVLT has a correlation of 0.25 to the broad based SPY ETF.

CVLT has a market cap of $4.13 billion. This is considered a Mid Cap stock.

Last quarter Commvault Systems reported $217 million in Revenue and $.78 earnings per share. This beat revenue expectation by $9 million and exceeded earnings estimates by $.05.

In the last 3 years, CVLT stock traded as high as $102.22 and as low as $50.26.

The top ETF exchange traded funds that CVLT belongs to (by Net Assets): VTI, IJH, VB, IWM, VXF.

CVLT has outperformed the market in the last year with a return of +56.2%, while the SPY ETF gained +21.9%. In the last 3 month period, CVLT beat the market returning +20.1%, while SPY returned +4.9%. However, in the most recent 2 weeks CVLT has underperformed the stock market by returning -5.7%, while SPY returned -2.9%.

CVLT support price is $92.63 and resistance is $95.67 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CVLT stock will trade within this expected range on the day.