DA Davidson analyst Rudy Kessinger lowered the firm’s price target on Commvault (CVLT) to $200 from $215 and keeps a Buy rating on the shares ahead of its Q1 results. FX should be a $30M tailwind to reported Q1 annual recurring revenue and should also drive an upward revision to FY26 revenue, operating profit, and free cash flow guidance, the analyst tells investors in a research note. The firm adds however that the stock has traded down about 11% over the last month given an abundance of noise around consensus Q1 annual recurring revenue estimates.
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