Commvault initiated with a Buy at Loop Capital

Loop Capital last night initiated coverage of Commvault (CVLT) with a Buy rating and $125 price target The firm says the traditional data backup and protection market has “undergone a significant resurgence in recent years” given the emergence of cyber resilience and the increasing importance of data security. Next generation, cloud-native data protection and cyber resilience vendors have emerged, and Commvault is one of them, the analyst tells investors in a research note. Loop believes the company offers strength in its depth and breadth of workloads across a complex, hybrid environment.