CommVault Systems, severely penalized on recent sessions became oversold and now offers an interesting entry point for buyers.
The group usually releases better-than-expected statements and the recent full year 2014 earnings announcement was no exception. In fact, CommVault had a solid year as it achieved record revenue ($586 million, thus an increase of 18% over prior period). Although sales in the U.S. rose 13%, those generated abroad jumped 24%. In addition, analysts upwardly revised the company’s EPS and today they expect to receive $1.4 per share from only $1.14 by May 2013.
Technical patterns attest of a share that recently became oversold due to a sudden breakaway gap. With an exhausted selling pressure, positive figures recently posted out by the company should boost prices toward higher levels, letting the security aim at the midterm target of USD 57. The oversold situation previously mentioned should lure investors desiring to buy CommVault shares. As all weekly moving averages still having a positive orientation, likelihood for prices to encounter them increases.
Investors can take a long position at current prices in CommVault. The main objective remains the short term resistance at USD 57 and a stop loss must be placed below the support line at USD 45.8.
Commvault Systems, Inc. is a data management company. The Company offers cyber resilience platform that combines the data security and rapid recovery at enterprise scale across any workload. The Company provide these products and services for their data across many types of environments, including on-premises, hybrid and multi-cloud. Its offerings are delivered via self-managed software, software-as-a-service (SaaS), integrated appliances, or managed by partners. The Companyâs Commvault Cloud offerings are organized in three packages, such as Operational Recovery, Autonomous Recovery and Cyber Recovery. Its Operational Recovery provides backup, verifiable recovery, and cost-optimized cloud workload mobility, helping to ensure data availability and granular recovery, even across multiple clouds all managed with Commvaultâs Command Center. In addition, the Company provides customers with a range of offerings, including Cleanroom Recovery, HyperScale X, Air Gap Protect and Compliance.