Piper Sandler lowered the firm’s price target on Commvault (CVLT) to $133 from $146 and keeps an Overweight rating on the shares. While the firm expects many to still be slightly dizzy from all the moving parts once again, the simplified KPIs, return of CFO Merrill, Cloud strength, Subs ARR FY27 guide beat, and increasing penetration of identity/data security, is driving the stock higher. Piper continues to view Commvault as a Gen-Z vendor that will gain share and drive free cash flow leverage.
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