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Investing.com - Piper Sandler has reiterated its Overweight rating and $186.00 price target on CommVault Systems (NASDAQ:CVLT) following the company’s annual user conference, SHIFT, held in New York City. The target represents a 46% upside from the current price of $127.67, with CommVault shares currently trading near their 52-week low of $121.45.
The data protection company unveiled several new offerings at the event, including Cloud Unity, Synthetic Recovery, and new Identity Resilience features, alongside various feature updates and support for third-party platforms such as Snowflake. These innovations build upon CommVault’s impressive 81.55% gross profit margin, according to InvestingPro data.
Despite investor interest, CommVault did not provide new medium-term financial targets during the conference, consistent with the company’s post-earnings messaging.
Piper Sandler highlighted CommVault’s product differentiation showcased during the event and noted that demand drivers for the company appear to remain intact, making the recent stock pullback "compelling for a mid-teens+ sustainable grower over the next few years." This view aligns with the company’s 22.02% revenue growth over the last twelve months, though InvestingPro data shows the stock’s RSI currently suggests oversold territory.
The research firm recommended investors use the recent pullback to initiate or build positions in CommVault stock, pointing to upcoming earnings from competitor Rubrik as the next likely catalyst for movement in the data protection sector. The stock has declined nearly 30% over the past six months despite analyst consensus remaining bullish with price targets ranging from $144 to $220. InvestingPro offers 18 additional tips on CommVault’s financial health, valuation metrics, and growth prospects in its comprehensive Pro Research Report, available for over 1,400 US equities.
In other recent news, Commvault reported its second-quarter fiscal 2026 results, surpassing the high end of its guidance on both revenue and annual recurring revenue (ARR). Despite these positive financial metrics, Truist Securities lowered its price target on Commvault from $230.00 to $210.00, citing a duration headwind on term licenses, although the firm maintained a Buy rating. Additionally, Commvault introduced its Cloud Unity platform, which aims to centralize resilience operations across various cloud environments and on-premises data centers. This platform includes AI-enabled features for enhanced data protection and classification.
Moreover, Commvault unveiled new cyber recovery technologies within its Cloud Unity platform, such as enhanced Threat Scan capabilities and Synthetic Recovery. These innovations are designed to help organizations restore trusted data following cyberattacks. The company also expanded its Identity Resilience portfolio with new capabilities for Active Directory protection, allowing for threat detection, auditing, and system restoration. These developments underscore Commvault’s focus on addressing the challenges enterprises face in decentralized cloud environments.
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