Commvault Systems saw an improvement in its IBD SmartSelect Composite Rating Friday, from 94 to 96.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Commvault Systems is currently forming a consolidation, with a 178.72 buy point. Look for the stock to break out in volume at least 40% above average.
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The stock sports a 95 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 95% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q3, the company reported 21% EPS growth. It has now posted accelerating EPS growth for three consecutive quarters. Revenue growth climbed 21%, up from 16% in the prior quarter. That marks three quarters of increasing revenue gains.
Commvault Systems holds the No. 1 rank among its peers in the Computer Software-Database industry group. Elastic and Similarweb are also among the group's highest-rated stocks.
