Needham & Company Starts CommVault Systems (CVLT) at Buy

Needham & Company analyst Jack Andrews initiates coverage on CommVault Systems (NASDAQ: CVLT) with a Buy rating and a price target of $55.00.

The analyst comments "CVLT is a provider of an enterprise data platform that enables its customers to cost-effectively protect and manage their data throughout its lifecycle. We believe the potential for growth acceleration may be led by multiple catalysts which include: a renewal cycle, new products, and new management invigoration. However, even if these new products take time to meaningfully penetrate and/or if management is slow to reinvigorate growth, we believe the risk/reward profile is still favorable given CVLT's low valuation and the impact of the renewal cycle alone."

For an analyst ratings summary and ratings history on CommVault Systems click here. For more ratings news on CommVault Systems click here.

Shares of CommVault Systems closed at $39.97 yesterday.

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