Needham & Co. Highlights CommVault (CVLT) Competitive Advantages
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Price: $97.17 +1.71%
Rating Summary:
13 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
13 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Needham & Company maintained a Buy rating on CommVault Systems (NASDAQ: CVLT) and raised its price target to $70.00 (from $64.00)
Last week Needham hosted CommVault's CEO and CFO for one on one meetings with investors and a group lunch in NYC and Boston. Analyst Glenn Hanus described the overall tone as being very positive as CVLT appeared confident in its strategic/competitive position and outlook for continued strong revenue and EPS growth.
"CVLT is clearly benefitting from the intersection of virtualization, big data and shared services. These industry trends serve as a catalyst for potential customers to evaluate their IT strategies and infrastructures providing opportunities for competitive displacements," said Hanus.
"It appears competitors, which hold much of the installed base related to its served markets including IBM (NYSE: IBM) and Symantec (Nasdaq: SYMC) have not kept pace and CVLT is extending its technology lead, TAM and TCO (total cost of ownership) advantages especially with its upcoming Vision 2013 release," concluded Hanus.
He thinks EMC Corporation (NYSE: EMC) is a formidable competitor with great sales/support capability, but CVLT solution appears well differentiated vs. EMC. CommVault believes is EMC is 40 percent more expensive on a TCO basis.
For an analyst ratings summary and ratings history on CommVault Systems click here. For more ratings news on CommVault Systems click here.
Shares of CommVault Systems closed at $65.73 yesterday.
Last week Needham hosted CommVault's CEO and CFO for one on one meetings with investors and a group lunch in NYC and Boston. Analyst Glenn Hanus described the overall tone as being very positive as CVLT appeared confident in its strategic/competitive position and outlook for continued strong revenue and EPS growth.
"CVLT is clearly benefitting from the intersection of virtualization, big data and shared services. These industry trends serve as a catalyst for potential customers to evaluate their IT strategies and infrastructures providing opportunities for competitive displacements," said Hanus.
"It appears competitors, which hold much of the installed base related to its served markets including IBM (NYSE: IBM) and Symantec (Nasdaq: SYMC) have not kept pace and CVLT is extending its technology lead, TAM and TCO (total cost of ownership) advantages especially with its upcoming Vision 2013 release," concluded Hanus.
He thinks EMC Corporation (NYSE: EMC) is a formidable competitor with great sales/support capability, but CVLT solution appears well differentiated vs. EMC. CommVault believes is EMC is 40 percent more expensive on a TCO basis.
For an analyst ratings summary and ratings history on CommVault Systems click here. For more ratings news on CommVault Systems click here.
Shares of CommVault Systems closed at $65.73 yesterday.
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