Commvault price target raised to $122 from $109 at KeyBanc

KeyBanc analyst Thomas Blakey raised the firm’s price target on Commvault to $122 from $109 and keeps an Overweight rating on the shares. The firm notes the company reported beat/raise Q4 2024/Q1 2025 and FY25, as well as providing FY26 milestone targets of $1B in total ARR, driven by accelerated shift to SaaS/Metallic with a $310M-$330M FY26 SaaS ARR target.