Commvault price target raised to $121 from $112 at RBC Capital

RBC Capital analyst Dan Bergstrom raised the firm’s price target on Commvault to $121 from $112 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q2 earnings in Software. While all software companies are different, IT buying trends have stabilized, estimates remain reasonable, and GenAI has the opportunity to drive a wave of long-term innovations, though this will take time to impact growth, the analyst tells investors in a research note. Increased M&A activity and a potential IPO window also “leave investors engaged”, the firm added.