Commvault price target raised to $220 from $200 at DA Davidson

DA Davidson raised the firm’s price target on Commvault (CVLT) to $220 from $200 and keeps a Buy rating on the shares. The company’s Q1 outperformance was driven by a few large deals signed at the “very, very” end of the quarter, the analyst tells investors in a research note. The firm expects Cyber Resilience solutions, which carry significant average selling price uplifts, to continue to increase as a percentage of net new annual recurring revenue, the firm added.