Commvault initiated with a Hold at Jefferies

Jefferies analyst Joseph Gallo initiated coverage of Commvault (CVLT) with a Hold rating and $105 price target The firm sees some risk to the company’s fiscal 2027 subscription annual recurring revenue estimates. Commvault’s transition to a subscription and software-as-a-service model creates further expansion opportunities and improves visibility into its business, the analyst tells investors in a research note.