Noble Financial Downgrades CommVault Systems (CVLT) to Hold; Strong Quarter, but Can't Justify Valuation

Noble Financial downgraded CommVault Systems (NASDAQ: CVLT) from Buy to Hold.

Noble analyst says, "The strength in the quarter was driven by Simpana 9 traction as storage management solutions remain a key priority in IT departments around the world...Management indicated comfort with current estimates, but also reflected caution regarding the first quarter around large deal risk, pockets of weakness globally and the timing of new distribution agreements...From a fundamental basis, there is a lot more good than bad going on with the company, however, at current levels, we believe the valuation is stretched so that the risk/reward ratio is not as attractive."

For more ratings news on CommVault Systems click here and for the rating history of CommVault Systems click here.

Shares of CommVault Systems closed at $39.24 yesterday.

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