CommVault Systems Inc. (NASDAQ: CVLT) had its price target increased by equities researchers at Jefferies Group from $60.00 to $64.00.Jefferies Group currently has a rating of Buy on the shares. A number of other analysts have commented on the stock in recent days, and CommVault Systems Inc. has earned a consensus one-year price target of $57.36, higher than the opening price of $52.47, a difference of 11.14 percent. CommVault Systems Inc. stock has a 52-week high of $52.81.
Stocks closed mostly in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major indices, while the tech-heavy Nasdaq bucked the losing trend.
The Dow Jones Industrial Average DJIA, -0.18% slid 31.98 points, or 0.2%, to close at 18,034.77
The S&P 500 index SPX, -0.06% fell 1.25 points to end at 2,125.77, weighed by a 1.2% drop in the energy sector.
The Nasdaq Composite Index COMP, +0.36% advanced 18.52 points, or 0.4%, to close at 5,173.77.
Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of CommVault Systems Inc. (NASDAQ: CVLT) opened at $52.47 yesterday and traded in a range between, $51.30 and $52.57, and last traded at $51.47, which represents a change of $ -0.64 over the previous closing price.
CommVault Systems Inc. (NASDAQ: CVLT) currently has a market cap of 2.29B
The stocks average daily volume is 359,697 shares out of a total float 41,112,000 and some 245,345 shares traded hands yesterday, 83 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind CommVault Systems Inc. (NASDAQ: CVLT) now has a 50-day MA is $51.61 and 200-day MA is $45.40, and it has traded in a 52-week range between $29.41 – 52.81 and today’s last price is -2.54 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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