Commvault initiated with an Overweight at Stephens

Stephens initiated coverage of Commvault (CVLT) with an Overweight rating and $162 price target Commvault is an established market leader successfully evolving to address modern data protection opportunities, and is executing a dual transition modernizing its platform and shifting its business model towards Software-as-a-Service, the analyst tells investors in a research note. The firm added that the company’s margin profile reflects continued investment, with long-term expansion optionality.