CommVault Systems Inc. (NASDAQ: CVLT) had its price target boosted by equities researchers at Mizuho from $56.00 to $60.00. The company currently has a rating of Buy on the stock. A number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $56.64, higher than the opening price of $52.00, a difference of 11.05 percent. CommVault Systems Inc. stock has a 52-week high of $52.81.
U.S. stocks saw their biggest selloff since June 24, (Brexit) on Friday after comments from a voting member of the Federal Reserve’s policy-setting committee suggested a September rate hike was still a possibility.
The Dow Jones Industrial Average dropped 394 points, or 2.13% to 18085.
The S&P 500 shed 53 points, or 2.45% to 2127, while the Nasdaq Composite erased 133 points, or 2.54% to 5125.
Stocks were no alone in declines on Friday.
Global oil prices, after rallying Thursday, dropped more than 3% Friday to trade just above $45 a barrel.
Gold prices also traded lower, shedding more than 0.6% to trade around $1,332.
Typically, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.
Shares of CommVault Systems Inc. (NASDAQ: CVLT) opened at $52.00 yesterday and traded in a range between, $51.24 and $52.09, and last traded at $51.27, which represents a change of $ -1.15 over the previous closing price.
CommVault Systems Inc. (NASDAQ: CVLT) now has a market cap of 2.28B
The stocks average daily volume is 351,923 shares out of a total float 41,112,000 of and some 287,854 shares crossed the trading desk yesterday, 34 percent lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind CommVault Systems Inc. (NASDAQ: CVLT) now has a 50-day MA is $51.42 and 200-day MA is $45.03, and it has traded in a 52-week range between $29.41 – 52.81 and today’s last price is -0.03 percent off the 52 week high of $52.81.
Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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