Commvault downgraded to Neutral from Buy at Guggenheim

Guggenheim downgraded Commvault to Neutral from Buy without a price target The shares are up 113% year-to-date, and four of five resellers Guggenheim spoke to, including a consultant that has visibility into multiple reseller businesses, missed their Q3 Commvault business targets, citing a weak finish to the quarter, due in part to more deal scrutiny and spending hesitation, the analyst tells investors in a research note. The firm sees risk to the company’s fiscal Q2 total revenue and potentially profit too, in Commvault’s seasonally softest quarter.