Commvault price target raised to $168 from $147 at Piper Sandler

Piper Sandler raised the firm’s price target on Commvault (CVLT) to $168 from $147 and keeps a Neutral rating on the shares. The firm says market drivers like DORA, vendor consolidation, multi-environment, cyber-resilience, and data-security are helping fuel the underlying durable growth Commvault experienced in FY25 and management’s confidence ahead that resulted in FY26 top-line guidance coming in modestly better than feared. With Commvault seeing multiple opportunities ahead, the team is investing behind growth which, while it will balance the Rule-of-40, results in weaker than anticipated OPM/free cash flow in FY26 and could raise questions as to if the need to maintain growth levels requires higher required investments longer and thus lower free cash flow, Piper adds.