Oppenheimer analyst Param Singh lowered the firm’s price target on Commvault (CVLT) to $150 from $180 and keeps an Outperform rating on the shares. The firm notes Commvault reported a beat to Q3, with revenue/EPS ahead of expectations and management guiding Q4 top line roughly in line with consensus. Despite a strong performance, investors focused on net-new-ARR growth for the quarter/Q4 guide, which declines sequentially, and extrapolated it to an implied material deceleration for 2026. This led to significant pressure on the stock during the day. However, Oppenheimer believes this was a gross overreaction, given Commvault’s strong market position and technological innovation.
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