Commvault Systems (CVLT) Remains a Strong Buy

Commvault Systems, Inc. (NASDAQ:CVLT) is one of the 15 software stocks with the highest upside potential. On January 12, KeyBanc cut its price target on Commvault Systems, Inc. (NASDAQ:CVLT) from $185 to $152. However, KeyBanc analyst Eric Heath maintained a Buy rating for the shares. The adjusted price target offers a further 22.5% upside from the current levels.

The firm explained that the price target revision reflects a modest decline in valuation multiples across competitors, rising competitive concerns, and increased caution regarding security-related spending budgets.

In contrast to KeyBanc, RBC Capital maintained its price target of $167 for the shares on January 5. Analyst Dan Bergstrom also reaffirmed a Buy rating on the shares. The firm’s price target implies a further 31.31% upside from the current levels.

On December 29, Stephens started covering the stock with a Buy rating. The analyst Todd Weller, CFA, assigned a price target of $162 to the shares, representing a further 30.6% upside from current levels. As per the analyst, the company is a well-established market leader that is successfully adapting to meet modern data protection needs. Moreover, the firm noted that the company is undergoing a dual transformation, transitioning its business model toward a Software-as-a-Service offering and modernizing its platform.

Commvault Systems, Inc. (NASDAQ:CVLT) is a cyber-resilience platform provider that protects and recovers data and cloud-native applications across the Americas and internationally. It was founded in 1996 and is based in Tinton Falls, New Jersey.

While we acknowledge the potential of CVLT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.