FBN Securities Reiterates Commvault Systems Sector Perform, Raises PT

FBN Securities reiterated its Commvault Systems CVLT Sector Perform rating and raised its Commvault Systems price target from $42 to $44 in a research report published today. In the report, FBN Securities states, "With its impressive 38% revenue growth, it is clearly gaining share from SYMC, EMC, and IBM, especially IBM, in the storage software market, and its strong enterprise focus (now a year old) has been very successful (average enterprise deal up 23% Q/Q to $269K; enterprise revenue up 83% Y/Y; enterprise now 52% of license revenue). However, much of the great news is already in the company's shares, so we remain neutral on the stock." Shares of Commvault Systems were trading at $42.14 at the time of posting, up 8.76% from Monday's market close.