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 suggest a positive outlook for CommVault Systems. Despite the recent announcement of CFO Jen DiRico’s departure, Kothari believes the transition will be well-managed with no disruption to the company’s financial planning or external reporting. The interim leadership, comprising experienced financial executives, ensures continuity and stability during this period.
Furthermore, Kothari highlights the company’s strong momentum across enterprise and regulated verticals, which supports a bullish outlook as they head into the next fiscal year. The company’s financial guidance remains unchanged, and Kothari sees potential upside in the enterprise install-base, driven by a broader shift in data protection needs. The valuation, with a price target of $215, reflects a premium to the peer group, indicating confidence in CommVault’s ability to capitalize on market opportunities despite competitive pressures.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $200.00 price target.
Based on the recent corporate insider activity of 42 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.