|Over a week ago|
Starboard Value buys ON Semi, cuts Advance Auto stake in Q4 » 16:1002/1602/16/21
ON, SPY, ACIW, CTVA, NLOK, CVLT, ACM, AAP, IWN, SCOR, CERN, GDOT
Jeffrey Smith's Starboard Value disclosed in an SEC filing its holdings as of December 31, 2020. Starboard's one new buy during the fourth quarter was ON Semiconductor (ON). The fund exited one position during the quarter, namely SPDR S&P 500 ETF Trust (SPY). Starboard increased its stake in eight holdings, including by size of previous position ACI Worldwide (ACIW), Corteva (CTVA), NortonLifeLock (NLOK), Commvault (CVLT), and Aecom (ACM). The fund decreased its stake in six holdings, including by size of previous position Advance Auto (AAP), iShares Russell 2000 Value ETF (IWN), ComScore (SCOR), Cerner (CERN), and Green Dot (GDOT). Starboard's top holdings as of December 31, in order of size, were Corteva, NortonLifeLock, Aecom, ACI Worldwide, and ON Semiconductor.
Commvault appoints SaaS Veteran Isabelle Guis as Chief Marketing Officer » 08:3202/0402/04/21
Commvault appointed Isabelle Guis as Chief Marketing Officer. Most recently, she was vice president of sales cloud product marketing at Salesforce, where she oversaw product messaging, launches, and innovation for the Sales Cloud portfolio. Prior to Salesforce, she was the chief marketing and strategy officer at Egnyte. Guis has also held executive and senior management roles at EMC Corporation, Big Switch Networks, Avaya, Cisco Systems, and Nortel Networks.
|Over a month ago|
Commvault price target raised to $75 from $55 at Wells Fargo » 07:0001/2901/29/21
Wells Fargo analyst Aaron…
Wells Fargo analyst Aaron Rakers raised the firm's price target on Commvault to $75 from $55 and keeps an Overweight rating on the shares. Commvault provided what the analyst considers a positive long-term strategic update, of 9%-10% software & products revenue growth with a target of 25%+ EBITDA through FY23, coupled with a positive capital allocation update.
Commvault price target raised to $76 from $66 at Needham » 09:1601/2801/28/21
Needham analyst Jack…
Needham analyst Jack Andrews raised the firm's price target on Commvault to $76 from $66 and keeps a Buy rating on the shares. In its Investor Day presentation yesterday, the company's management detailed how the culmination of investments in its products, migration of its customer base to subscriptions, and go-to-market changes emphasizing operational discipline are contributing to its "improved posture" for addressing the larger and more modern requirements of Intelligent Data Management, the analyst tells investors in a research note.
Commvault price target raised to $68 from $54 at Lake Street » 09:0701/2801/28/21
Lake Street analyst Eric…
Lake Street analyst Eric Martinuzzi raised the firm's price target on Commvault to $68 from $54 and keeps a Buy rating on the shares, stating that he sees the company's "excellent" Q3 results and "solid" guidance as further evidence of recovery. Martinuzzi also noted that Commvault said it will be more aggressive over the next 14 months in terms of buying back stock.
Commvault price target raised to $57 from $48 at RBC Capital » 07:5501/2801/28/21
RBC Capital analyst Dan…
RBC Capital analyst Dan Bergstrom raised the firm's price target on Commvault to $57 from $48 but keeps a Sector Perform rating on the shares. The company's Q3 results were ahead of expectations as its transition to subscription revenue "continues to build", the analyst tells investors in a research note. Bergstrom adds that while the stock is valued at 3-times enterprise value to expected sales vs. its peer group mean of 5-times, the discount reflects Commvault's "inconsistency over the last several quarters" and the recently reduced estimates.
Commvault price target raised to $75 from $55 at Wells Fargo » 07:3501/2801/28/21
Wells Fargo analyst Aaron…
Wells Fargo analyst Aaron Rakers raised the firm's price target on Commvault to $75 from $55 and keeps an Overweight rating on the shares. The analyst notes that Commvault reported "strong" Q3 upside tand provided what he considers a positive long-term strategic update.
Commvault price target raised to $70 from $68 at Piper Sandler » 06:0501/2801/28/21
Piper Sandler analyst…
Piper Sandler analyst James Fish raised the firm's price target on Commvault to $70 from $68 and keeps an Overweight rating on the shares following the company's analyst day. Commvault has hit the point in its transition of "inflecting results," with growth over the next few years projected higher than Street estimates and imply share gains, Fish tells investors in a research note.
Commvault sees 2021 EPS $2.00, consensus $1.90 » 13:0201/2701/27/21
Sees 2021 revenue $714M,…
Sees 2021 revenue $714M, consensus $695.34M. Comments taken from FutureReady investor event.
Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue » 12:3901/2701/27/21
Sees non-GAAP sales &…
Sees non-GAAP sales & marketing spend as 41% of revenue in FY21. Sees non-GAAP sales & marketing spend as 38% of revenue in FY23. Says gross margins are normalizing. Says committed to $200M in share repurchase through year-end 2022. Says will commit approximately 75% of FCF to additional share repurchases beginning in 2022. Says targeting non-GAAP EBITDA margin of approx. 25% in FY23. Says targeting sustainable double-digit EPS growth through FY23. Says aspiring to attain Rule of 40. Comments taken from FutureReady investor event.