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CVLT - Position Close Update: CommVault Systems Inc.
Commvault Systems Inc.
CommVault Systems (CVLT) was originally selected as a Danger Zone Idea on 9/25/17. At the time of the initial report, the stock received a Very Unattractive rating. Our short thesis noted the firm's lack of profitability, subpar corporate governance, and overvalued stock price.
During the 592-day holding period, CVLT outperformed as a short position, declining 17% compared to a 15% gain for the S&P 500.
We upgraded CVLT's Overall Risk/Reward Rating to Unattractive in October 2017 and, then, to Neutral, on 5/3/19. The stock remains overvalued, but its risk/reward profile