Commvault price target raised to $112 from $97 at RBC Capital

RBC Capital analyst Dan Bergstrom raised the firm’s price target on Commvault to $112 from $97 and keeps a Sector Perform rating on the shares after its Q4 earnings beat. The company again “nicely outperformed”, while its guidance implies continued momentum and a level of confidence around FY25, the analyst tells investors in a research note. Commvault’s revenue has the potential to further accelerate over the next several years, RBC added.