Shrenik Kothari, an analyst from Robert W. Baird, maintained the Buy rating on CommVault Systems. The associated price target remains the same with $215.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors that highlight CommVault Systems’ promising outlook. The company is experiencing robust ARR growth and accelerating SaaS adoption, which are expected to improve margin leverage as the product mix matures. Despite competitive pressures, win rates remain stable, and the company is well-positioned to capitalize on the significant portion of the market still dominated by legacy incumbents.
Additionally, the total addressable market for data resilience is expanding annually, and CommVault is gaining market share from legacy competitors. The company’s SaaS land-and-expand strategy is proving successful, with strong net retention rates and significant contributions to ARR from security and identity-adjacent workloads. The upcoming SHIFT event is anticipated to further emphasize CommVault’s platform evolution and its positioning as a hybrid-first, AI-ready resilience platform, which should reinforce its competitive advantage in the market.
In another report released on November 10, Oppenheimer also initiated coverage with a Buy rating on the stock with a $200.00 price target.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CVLT in relation to earlier this year.