Wunderlich Securities Reiterates Hold on CommVault Systems (CVLT)

Wunderlich Securities reiterated its Hold rating on CommVault Systems

. In a research report published today, Wunderlich stressed that even though CommVault's Q1 results were ahead of market expectations, its underlining revenues and earnings per share were not as impressive. In the report, Wunderlich states, "CommVault (

) delivered solid fiscal 4Q11 results. EPS of $0.25 on revenue of $89.6 million compares to consensus expectations for EPS of $0.23 on revenue of $89.6 million. We are encouraged by the improving traction in the company's business, but we believe the current valuation is slightly generous in light of the company's revenue and EPS growth rates. Accordingly, we maintain a Hold rating on CVLT shares as we monitor for further revenue or margin acceleration sufficient to drive a higher multiple or EPS upside versus our model." Wunderlich currently has a price target of $37 on CommVault. In yesterday's trading, CommVault's shares skyrocketed to $39.24, or an increase of 7.01% on Monday's closing value.