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Marketwise Inc is a multi-brand subscription services platform providing premium financial research, software, education, and tools for investors. Its products are built for high-value financial research, education, actionable investment ideas and investment software. It is a digital, direct-to-consumer company offering its research across a variety of platforms including mobile, desktops, and tablets.

Marketwise Inc

BMO Capital analyst Katja Jancic maintains United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) with a Outperform and lowers the price target from $43 to $40.

News

Price Target

Analyst Ratings

BMO Capital Maintains Outperform on United States Steel, Lowers Price Target to $40

Innovative Industrial Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIPR#NYSE">IIPR</a>) shares are trading lower after the company disclosed that PharmaCann Inc. defaulted on rent payments<a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42481108/innovative-industrial-properties-declares-fourth-quarter-2024-dividends" rel="noreferrer noopener"> for several of its leased properties</a>.
On December 19, PharmaCann defaulted on its obligations to pay rent for the month of December under six of eleven leases, representing properties in Illinois, Massachusetts, Michigan, New York, Ohio, and Pennsylvania.
The total rent, including base rent, property management fees, and estimated tax and insurance payments, amounted to $4.2 million for these six properties. In response, IIP applied the security deposits held under these leases to cover the outstanding rent, along with late penalties and interest.
Despite PharmaCann paying rent in full under the remaining five leases, it also defaulted on those due to cross-default provisions in the leases.
PharmaCann and its affiliates, tenants for eleven properties that IIP owns, represented&nbsp;17%&nbsp;of IIP&#8217;s total rental revenues for the three and nine months ended September 30, 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/12/42619788/market-volatility-halts-on-soft-inflation-data-yet-traders-remain-wary-of-fighting-the-fed-10-etfs-moving-friday" rel="noreferrer noopener">Market Volatility Halts On Soft Inflation Data, Yet Traders Remain Wary Of Fighting The Fed: 10 ETFs Moving Friday</a>
As a result, Innovative Industrial Properties said it is pursuing discussions with PharmaCann and intends to enforce its rights under the leases, which could include eviction proceedings if deemed necessary.
Earlier this month, Innovative Industrial Properties announced a fourth-quarter 2024 dividend of $1.90 per common share, representing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42481108/innovative-industrial-properties-declares-fourth-quarter-2024-dividends" rel="noreferrer noopener">an annualized dividend of $7.60 per share.</a>
Additionally, the company declared a regular quarterly dividend of $0.5625 per share of its 9.00% Series A Cumulative Redeemable Preferred Stock, both of which are payable on January 15.
Price Action: IIPR shares are trading lower by 21.4% to $74.93 at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42606037/etf-market-hits-records-in-2024-inflows-reach-16-trillion-7-funds-top-ranking" target="_blank" rel="noreferrer noopener">ETF Market Sets Records In 2024 As Inflows Reach $1.6 Trillion: 7 Funds Leading Charge</a></li>
</ul>
Image via Shutterstock.

Equities

Markets

Movers

General

IIPR

Innovative Industrial Properties Hit By Cannabis Company PharmaCann's Rent Default, Stock Plunges

Lake Street initiates coverage on PaySign (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYS#NASDAQ">PAYS</a>) with a Buy rating and announces Price Target of $6.

Initiation

PAYS

Lake Street Initiates Coverage On PaySign with Buy Rating, Announces Price Target of $6

Bill Gates doesn't shy away from paying taxes. In fact, he <a href="https://www.benzinga.com/personal-finance/24/07/39657043/bill-gates-wants-to-pay-more-in-taxes-ive-been-disproportionately-rewarded-while-many-others-who">thinks he should be paying more – </a>a lot more. But if he feels that way, why doesn't the multibillionaire voluntarily hand over a bigger slice of his fortune to Uncle Sam?&nbsp;
It's a question critics love to ask and Gates has been clear about his stance. In a 2019 end-of-the-year GatesNotes blog post, he addressed the question: "People pay taxes as an obligation of law and citizenship, not out of charity."
Don't Miss:
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
</ul>
This isn't some new talking point for Gates. For years, he's publicly advocated for a fairer, more progressive tax system. Back in the 2019 blog post, he pointed out what he sees as a fundamental problem: "The U.S. government simply does not bring in enough money to meet its obligations. This isn't a value judgment; it's just a fact." And Gates believes the wealthiest Americans – including himself – should be doing more to close that gap.
It's not just lip service, either. Gates and his father were early champions of raising the federal estate tax and they supported creating a state income tax in Washington, one of the most regressive tax states in the country. The reasoning is simple: Gates doesn't believe wealth and power should be concentrated in families just because they happened to hit the jackpot a generation ago. "A dynastic system where you can pass vast wealth along to your children is not good for anyone," he's said, explaining why he and Melinda plan to give most of their fortune to charity instead of leaving it to their kids.
See Also: Deloitte's fastest-growing software company partnered with Amazon, Walmart &amp; Target announces the deadline to invest this year is 12/20. – <a href="https://www.benzinga.com/money/mode-mobile-2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a>
Still, the question persists: Why not lead by example and pay more than required? Gates has a straightforward answer. He argues that taxes aren't meant to be optional. Voluntary contributions, while noble, aren't a scalable solution to funding the public good. "If Melinda and I signed over our foundation's entire endowment to the state of California, it wouldn't be enough to fund their public schools for even one year," he wrote. For Gates, a robust tax system – designed to be fair and consistent – is the only way to address inequality and meet the government's obligations.
He's particularly critical of how the current tax system favors wealth over work. Capital gains, which comprise a large portion of income for the wealthiest Americans, are taxed at just 20%, while labor income can be taxed up to 37%. That discrepancy, Gates argues, is unfair. "I don't see any reason to favor wealth over work the way we do today," he said, suggesting that capital gains taxes should be raised to match income taxes.
Trending: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Gates also supports closing loopholes in the estate tax, removing caps on Medicare taxes and taxing long-held fortunes that often escape scrutiny. He's quick to point out that these changes wouldn't just be symbolic gestures – they'd help <a href="https://www.benzinga.com/personal-finance/24/12/42396804/could-the-super-catch-up-be-your-ticket-to-a-richer-retirement-starting-in-2025-60-year-olds-can-save-an-extra-11250">create a more balanced system</a> where everyone contributes their fair share.
But Gates isn't blind to the importance of incentives. He's careful to stress that taxes shouldn't be raised so high that they discourage innovation. After all, when he and Paul Allen started Microsoft in the 1970s, the top marginal tax rate was nearly double what it is today and it didn't stop them from building one of the world's most valuable companies. In his view, there's still plenty of room to increase taxes on the wealthy without stifling entrepreneurship or economic growth.
Trending: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
While Gates has no intention of writing unsolicited checks to the IRS, his commitment to giving back is clear. Through philanthropy, he and Melinda focus on tackling global challenges like health, education and climate change – areas where private foundations can often take risks that governments or corporations can't. As he sees it, philanthropy and fair taxation aren't mutually exclusive; they're complementary ways of <a href="https://www.benzinga.com/money/are-you-rich">addressing inequality and driving progress</a>.
Ultimately, Gates believes <a href="https://www.benzinga.com/news/24/12/42438799/bill-gates-predicts-ai-in-the-workforce-will-lead-to-so-much-leisure-time-but-itll-create-a-what-do-we-do-with-all-that-time-problem">real change</a> won't come from one billionaire's checkbook. It has to come from rethinking the system itself. "We've updated our tax system before to keep up with changing times," he wrote, "and we need to do it again, starting with raising taxes on people like me." For Gates, it's not about the size of his contribution – it's about creating a system where everyone pays their fair share, not out of charity, but out of obligation.
Read Next:
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<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">The deadline to invest and receive your shares this year is 12/20. Join 30,000+ shareholders and invest at $0.26/share today.</a></li>
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Personal Finance

Bill Gates Answers Why He Doesn't Just Voluntarily Pay More In Taxes – 'People Pay Taxes As An Obligation Of Law … Not Out Of Charity'

Raymond James analyst Simon Leopold maintains Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) with a Outperform and raises the price target from $17 to $39.

AAOI

Raymond James Maintains Outperform on Applied Optoelectronics, Raises Price Target to $39

WIIM

ECARX Holdings shares are trading higher after the company announced a plan to repurchase up to $20 million of its ordinary shares through September 30, 2025.

JP Morgan analyst Matthew Boss maintains Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) with a Overweight and raises the price target from $201 to $204.

JP Morgan Maintains Overweight on Abercrombie & Fitch, Raises Price Target to $204

WEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEX#NYSE">WEX</a>) has outperformed the market over the past 15 years by 31.59% on an annualized basis producing an average annual return of 43.27%. Currently, WEX has a market capitalization of $6.66 billion. 
Buying $1000 In WEX: If an investor had bought $1000 of WEX stock 15 years ago, it would be worth $219,844.16 today based on a price of $167.45 for WEX at the time of writing.
<h3>WEX's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734711614_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In This Stock 15 Years Ago Would Be Worth This Much Today

JP Morgan analyst Rajat Gupta maintains CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Underweight and raises the price target from $70 to $72.

JP Morgan Maintains Underweight on CarMax, Raises Price Target to $72

TD Cowen analyst Daniel Chan upgrades BlackBerry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) from Hold to Buy and raises the price target from $3.25 to $4.

Upgrades

TD Cowen Upgrades BlackBerry to Buy, Raises Price Target to $4

JP Morgan analyst Brian Ossenbeck maintains FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) with a Overweight and raises the price target from $366 to $370.

JP Morgan Maintains Overweight on FedEx, Raises Price Target to $370

Mastercard's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) short percent of float has risen 5.48% since its last report. The company recently reported that it has 6.29 million shares sold short, which is 0.77% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.31 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Mastercard Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734711325_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Mastercard has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Mastercard's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Mastercard's peer group average for short interest as a percentage of float is 4.86%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Mastercard's Recent Short Interest

Viking Therapeutics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NYSE">VKTX</a>) short percent of float has risen 6.35% since its last report. The company recently reported that it has 18.07 million shares sold short, which is 21.78% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Viking Therapeutics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734711319_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Viking Therapeutics has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Viking Therapeutics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Viking Therapeutics's peer group average for short interest as a percentage of float is 13.65%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

VKTX

Looking Into Viking Therapeutics's Recent Short Interest

Lumentum Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NYSE">LITE</a>) short percent of float has risen 5.18% since its last report. The company recently reported that it has 11.15 million shares sold short, which is 21.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.96 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lumentum Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734711315_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lumentum Holdings has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Lumentum Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lumentum Holdings's peer group average for short interest as a percentage of float is 6.05%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

LITE

Peering Into Lumentum Holdings's Recent Short Interest

Macro Economic Events

Market Summary

Economics

Benzinga Market Summary: Novo Nordisk Falls On Weight Loss Data, Shares Of Competitor Lilly Rise, S&P Continues Higher

DXCM

Shares of glucose monitoring stocks are trading higher following weaker-than-expected weight loss data from Novo Nordisk.

Pyxis Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYXS#NASDAQ">PYXS</a>) announced on Thursday, a portfolio prioritization, focusing resources on advancing its <a href="https://www.benzinga.com/pressreleases/24/12/g42603862/pyxis-oncology-announces-portfolio-prioritization-focusing-resources-on-its-lead-clinical-program-" target="_blank" rel="noreferrer noopener">lead clinical program, PYX-201</a>.
Pyxis Oncology&#8217;s second clinical program, PYX-106, is being deprioritized to allocate resources toward advancing the lead asset, PYX-201.
As a result, Pyxis Oncology has decided to suspend further clinical investment in PYX-106, which was in-licensed from Biosion Inc., with Biosion retaining rights for Greater China.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/42113042/pyxis-oncologys-cancer-drug-progress-stirs-analyst-concerns" rel="noreferrer noopener">Pyxis Oncology&#8217;s Cancer Drug Progress Stirs Analyst Concerns</a>
In November, Pyxis Oncology reported preliminary data from the ongoing Phase 1 dose-escalation study of PYX-201, evaluating its safety and efficacy in multiple solid tumor types.
Among patients with HNSCC, PYX-201 achieved a confirmed 50% objective response rate (ORR), including one complete response and a disease control rate (DCR) of 100% in six heavily pretreated HPV-positive and HPV-negative evaluable patients with a median of four prior lines of therapy.
Across six solid tumor types of interest at therapeutically active dose levels, including HNSCC, ovarian, non-small cell lung cancer (NSCLC), HR+/HER2- breast cancer, triple-negative breast cancer (TNBC) and sarcoma, PYX-201 (n=31) achieved a 26% ORR in the Phase 1 trial, with dose-dependent responses observed.
The portfolio prioritization further supports a development plan for PYX-201 in several dose expansion studies, including monotherapy in 2/3L HNSCC, in combination with pembrolizumab in 1/2L+ HNSCC, and pembrolizumab combination studies in other solid tumors including HR+/HER2- and triple-negative breast cancer.
Preliminary data from these cohorts are expected in the second half of 2025 and the first half of 2026.
&#8220;Given the historical development challenges associated with anti-siglec-15 antibodies, we believe that the Street expectations were low heading into the initial data readout for PYX-106,&#8221; said the William Blair analyst.
The company&#8217;s current cash position is expected to fund its planned monotherapy and combination therapy trials of PYX-201 into the second half of 2026.
The analyst says it supports management's decision to stop investing in the program. While PYX-201 showed some activity, it likely won't significantly change head and neck cancer treatment.
PYXS Price Action: PYXS Oncology stock is up 1.30% at $1.56 at publication Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/12/42615874/why-is-cancer-focused-aadi-bioscience-stock-trading-higher-on-friday" target="_blank" rel="noreferrer noopener">Why Is Cancer-Focused Aadi Bioscience Stock Trading Higher On Friday?</a></li>
</ul>
This image was created using artificial intelligence MidJourney.

Analyst Color

Biotech

Health Care

PYXS

Pyxis Oncology's Deprioritizes Second Pipeline Asset, Analyst Applauds Move

SNPX

Synaptogenix shares are trading higher after the company announced it formed an independent Special Committee to explore strategic opportunities.

SCHL

Scholastic shares are trading lower after the company on Thursday reported worse-than-expected Q2 financial results.

BlackBerry shares are trading higher following Q3 financial results.

Warning: MKTW is at high risk of performing badly

MarketWise (MKTW) has provided an announcement. Chad Curlett, the Chief Operating Officer of MarketWise, Inc., resigned on August 19, 2024, and fin...

MarketWise COO Chad Curlett Resigns with Severance Deal

With solid financial performance, strategic alliances, and a unified platform for advanced data protection and cyber resilience, is Commvault Systems (CVLT) poised to be the next big player in cloud security? Read more to find out... Commvault Systems, Inc. (<a href="https://stocknews.com/stock/CVLT/">CVLT</a>) is the gold standard in cyber resilience, safeguarding data for over 100,000 organizations and ensuring their businesses remain resilient and thrive. It provides innovative security and AI features to protect data from cyber threats, modern backup and recovery capabilities, and integration with top cloud providers and security partners.
CVLT reported better-than-expected first-quarter 2024 results. Commvault's total revenue came in at $224.70 million, surpassing analysts' estimate of $215.54 million. Moreover, CVLT recorded a 17% annualized recurring revenue (ARR) year-over-year growth to $803 million, and its subscription ARR rose to $636 million, up 28% year-over-year.
In addition, the company posted non-GAAP net income per share of $0.85, compared to the consensus estimate of $0.73.
Furthermore, Commvault provided updated guidance for the fiscal year 2025. The company expects its total revenues to be between $915 million and $925 million. Its total ARR is expected to increase 15% year-over-year. Its subscription revenue is anticipated to be between $522 million and $527 million, and subscription ARR will grow 23%-25% year-over-year.
For the 13th consecutive time, CVLT was <a href="https://community.commvault.com/news-events-7/13-times-a-gartner-magic-quadrant-leader-for-enterprise-backup-and-recovery-software-solutions-9300">positioned by Gartner as a Leader in the 2024 Magic Quadrant</a> for Enterprise Backup and Recovery Software Solutions based on its completeness of vision and ability to execute. Also, Commvault had been named a "Leader" and "Forward Mover" in the <a href="https://www.commvault.com/gc/gigaom-sonar-report-for-cloud-based-data-protection#:~:text=Commvault%20Named,Forward%20Mover%E2%80%8B&amp;text=The%202024%20GigaOm%20Sonar%20for,leaderboard%20among%2013%20competing%20vendors.">2024 GigaOm Sonar Report</a> for Cloud-Native Data Protection.
Shares of CVLT have gained 57.9% over the past six months and 119.9% over the past year to close the last trading session at $150.41. Also, the stock has surged 20.2% over the past month.
Let's look at factors that could influence CVLT's performance in the upcoming months.
Positive Recent Developments
On August 5, CVLT announced an <a href="https://www.commvault.com/news/commvault-expands-cybersecurity-ecosystem-with-leading-integration-partners#:~:text=TINTON%20FALLS%2C%20NJ%20%E2%80%93%20August%205,Google%20Cloud%2C%20Splunk%2C%20and%20Wiz">expansion of its cyber and data security ecosystem</a> through strategic integrations with several security partners, including Acante, Dasera, Google Cloud, Splunk, and Wiz.
These integrations are crucial in enhancing cyber resilience for joint customers across on-premises, hybrid, and cloud environments, from detecting potential threats or anomalies to identifying the location of sensitive data and speeding up clean recoveries.
On July 31, CVLT announced Microsoft 365 Backup Storage as an integrated component of Commvault&#xAE; Cloud Backup and Recovery for Microsoft 365. The Commvault Cloud platform, powered by Microsoft Azure, enables joint customers to deploy this integrated solution for enhanced cyber resilience while enabling single-pane-of-glass control that simplifies administration and delivers a low total cost of ownership (TCO).
Robust Financials
For the second quarter that ended June 30, 2024, CVLT's revenues increased 13.4% year-over-year to $224.67 million. Its gross margin rose 13.7% from the year-ago value to $184.88 million. Its non-GAAP income from operations grew 11% from the prior year's quarter to $48.30 million.
Additionally, the company's non-GAAP net income and earnings per share were $38.40 million and $0.85, compared to $32.53 million and $0.72 in the previous year's period, respectively. Its non-GAAP <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> was $43.83 million, up 15.7% year-over-year.
Favorable Analyst Estimates
Analysts expect CVLT's revenue for the second quarter (ending September 2024) to grow 9.9% year-over-year to $220.97 million. The consensus EPS estimate of $0.76 for the ongoing quarter indicates an improvement of 8.2% year-over-year. Further, the company has topped consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
For the fiscal year ending March 2025, Street expects Commvault's revenue and EPS to increase 9.8% and 12.3% from the previous year to $921.31 million and $3.35, respectively. The company's revenue and EPS for the fiscal year 2026 are expected to grow 10% and 15.1% year-over-year to $1.01 billion and $3.85, respectively.
High Profitability
CVLT's trailing-12-month gross profit margin of 82% is 66.1% higher than the industry average of 49.36%. Likewise, the stock's trailing-12-month EBIT margin of 9.86% is 95.5% higher than the industry average of 5.05%. Moreover, its trailing-12-month net income margin of 20.19% is significantly higher than the industry average of 3.63%.
Further, the stock's trailing-12-month ROCE, ROTC, and ROTA of 77.04%, 22.33%, and 18.70% favorably compared to the industry averages of 4.41%, 2.76%, and 2.06%, respectively. Its trailing-12-month levered FCF margin of 24.55% is 132.8% higher than the industry average of 10.54%.
POWR Ratings Reflect Promise
CVLT's sound fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CVLT has an A grade for Quality, consistent with its higher-than-industry profitability. In addition, the stock has a B grade for Growth and Sentiment, in sync with outstanding financial performance in the last reported quarter and optimistic analyst estimates.
Within the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry, CVLT is ranked #14 out of 129 stocks.
Beyond what I have stated above, we have also given CVLT grades for Value, Momentum, and Stability. Get all CVLT ratings <a href="https://stocknews.com/stock/CVLT/">here</a>.
Bottom Line
CVLT has consistently demonstrated its leadership in the cloud resilience and data protection space, bolstered by robust financial performance and strategic integrations with leading cloud and cybersecurity partners.
What truly sets Commvault apart from its industry peers is its ability to protect a wide range of workloads, deliver enterprise-grade data protection, offer simple and scalable recovery, and uniquely advance cyber resiliency—all within a single, unified platform.
Given outstanding financials, accelerating profitability, and a promising long-term outlook, CVLT could be an ideal buy for solid returns.
How Does Commvault Systems, Inc. (CVLT) Stack Up Against Its Peers?
While CVLT has an overall POWR Rating of B, investors could also check out these other stocks within the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry with an A (Strong Buy) rating: SS&amp;C Technologies Holdings Inc. (<a href="https://stocknews.com/stock/SSNC/">SSNC</a>), MarketWise Inc. (<a href="https://stocknews.com/stock/MKTW/">MKTW</a>), and Magic Software Enterprises Ltd. (<a href="https://stocknews.com/stock/MGIC/">MGIC</a>).
To explore more A or B-rated software stocks, <a href="https://stocknews.com/category/software-application/">click here</a>.
What To Do Next?
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CVLT shares were unchanged in premarket trading Thursday. Year-to-date, CVLT has gained 88.37%, versus a 18.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/cvlt-ssnc-mgic-mktw-could-commvault-systems-be-the-next-big-cloud-security-winner/>Could CommVault Systems Be the Next Big Cloud Security Winner?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Could CommVault Systems Be the Next Big Cloud Security Winner?

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