Commvault price target raised to $182 from $164 at RBC Capital

RBC Capital raised the firm’s price target on Commvault (CVLT) to $182 from $164 and keeps a Sector Perform rating on the shares. The company’s Q2 earnings and guidance were again nicely ahead, and the firm is positive on Commvault’s acceleration in subscription and total revenue, while its SaaS annual recurring revenue maintained outsized growth and showed minimal deceleration, the analyst tells investors in a research note.