What Happened?\nA number of stocks fell in the afternoon session after the White House announced a new round of steep global tariffs, sparking concerns of a trade war and its impact on the U.S. and global economies. This move creates significant uncertainty for businesses and investors. The new tariffs, with rates of up to 41% on imports from 68 countries and the European Union, prompted a broad market sell-off, with the tech-heavy Nasdaq index showing notable weakness. Adding to the bearish sentiment was a weaker-than-expected July jobs report, which revealed that employers created only 73,000 jobs, far below economists' expectations. This combination of trade fears and signs of a slowing labor market has created a \"risk-off\" environment, leading investors to pull back from growth-oriented sectors like software and technology. \n\nThe stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. \n\nAmong others, the following stocks were impacted:\nDeveloper Operations company GitLab fell 4.4%. Is now the time to buy GitLab? Access our full analysis report here, it’s free.\nHealthcare And Life Sciences Software company Doximity fell 4.2%. Is now the time to buy Doximity? Access our full analysis report here, it’s free.\nData Storage company Commvault Systems fell 4.7%. Is now the time to buy Commvault Systems? Access our full analysis report here, it’s free.\nMarketing Software company Braze fell 4.5%. Is now the time to buy Braze? Access our full analysis report here, it’s free.\nDesign Software company PTC fell 3.5%. Is now the time to buy PTC? Access our full analysis report here, it’s free.\n\nZooming In On Commvault Systems (CVLT)\nCommvault Systems’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. \n\nThe previous big move we wrote about was 3 days ago when the stock gained 16.1% on the news that the company reported first-quarter fiscal 2026 results that surpassed analyst expectations and raised its full-year revenue outlook. The data protection company posted revenue of $282 million, a 26% year-over-year increase that beat forecasts. Adjusted earnings came in at $1.01 per share, also ahead of estimates. The strong performance was driven by a significant shift to its subscription-based services. Subscription revenue surged 46% year-over-year, while its Software-as-a-Service (SaaS) offerings jumped 66%. This growth was also reflected in the company’s total Annualized Recurring Revenue (ARR), a key metric for future business, which climbed 24% to $996 million. Capping the positive report, Commvault provided an optimistic forecast for the second quarter and raised its revenue guidance for the full fiscal year.\n\nCommvault Systems is up 19% since the beginning of the year, and at $181.06 per share, it is trading close to its 52-week high of $193.37 from July 2025. Investors who bought $1,000 worth of Commvault Systems’s shares 5 years ago would now be looking at an investment worth $4,108.

GitLab, Doximity, Commvault Systems, Braze, and PTC Stocks Trade Down, What You Need To Know

The stock market declined following the White House's announcement of new global tariffs, which raised trade war concerns and exacerbated a weak July jobs report. This led to a sell-off in tech stocks, including GitLab, Doximity, Commvault Systems, Braze, and PTC. Commvault Systems reported strong Q1 2026 results, including a 26% revenue increase and a 46% surge in subscription revenue.