Commvault initiated with an Outperform at Baird

Baird analyst Shrenik Kothari initiated coverage of Commvault (CVLT) with an Outperform rating and $215 price target The company’s pivot from a legacy backup to full-stack data resilience is “well-timed,” the analyst tells investors in a research note. The firm believes Commvault’s hybrid-first platform, “differentiated” broad spectrum of recovery workflows, and enterprise install base “create staying power.”