Commvault Systems (NASDAQ: CVLT) was upgraded by equities research analysts at RBC Capital (NYSE: RY) to an “outperform” rating in a research note issued to investors on Tuesday.
Separately, analysts at ThinkEquity raised their price target on shares of Commvault Systems to $50.00 in a research note to investors on Tuesday, November 15th. They now have a “buy” rating on the stock.
CommVault Systems, Inc. (CommVault) is a provider of data and information management software applications and related services. It develops, markets and sells a unified suite of data and information management software applications under the Simpana brand. Its Simpana software is a platform with licensable modules that work together, sharing a single code and common function set, to deliver Backup and Recovery, Archive, Replication, Search and Resource Management capabilities. With a single platform approach, Simpana is specifically designed to protect, manage and access data throughout its lifecycle in less time and with fewer resources than alternative solutions. Simpana provides its customers with data protection, including backup and recovery; data migration and archiving; snapshot management and replication of data; embedded deduplication; enterprise-wide search capabilities, and management and operational reports, remote services and troubleshooting tools.
CommVault Systems (CVLT) Upgraded to Top Pick; Shares Continue Higher
Shares of CommVault Systems (Nasdaq: CVLT) are outperforming the broader equity market sharply Tuesday following an earlier upgrade from RBC Capital's Robert Breza. The stock last traded at $43.29, up 4.9 percent from Friday's closing price. Volume is below average this afternoon.
Breza now rates shares of CommVault a 'Top Pick,' up from 'Outperform' previously. The analyst maintained a $50 price target, which implies potential upside of almost 16 percent from where the stock is currently trading.