Commvault price target raised to $170 from $135 at DA Davidson

DA Davidson raised the firm’s price target on Commvault to $170 from $135 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s Cyber Resilience products are now materially contributing and the pace of legacy displacements has picked up, the analyst tells investors in a research note. FY25 ARR growth guidance was also raised nicely, reflecting those trends and the strong execution in Q1, the firm added.