DA Davidson lowered the firm’s price target on Commvault (CVLT) to $135 from $185 and keeps a Buy rating on the shares. The stock tumbled after the company’s Q3 net-new annual recurring revenue was well shy of investor expectations, the analyst tells investors in a research note. The firm stays positive despite the company’s “mixed” execution over the last couple of quarters however and notes that valuation on Commvault remains cheap.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVLT:
- Commvault price target lowered to $140 from $180 at Mizuho
- Commvault price target lowered to $150 from $180 at Oppenheimer
- Commvault price target lowered to $100 from $144 at Cantor Fitzgerald
- Commvault price target lowered to $185 from $205 at Baird
- Commvault price target lowered to $135 from $162 at Stephens