CVLT - Commvault: Another Great Quarter; Company's Transition To Cloud Working

• Commvault reported another solid quarter and guided up 3Q (December). Management continues to exude confidence in its growth prospects and position within the industry with its cloud-delivered portfolio.
• Commvault CEO noted that its modern platform, deployment (public cloud, hybrid, and on-prem) options continue to elicit interest as its customers are moving to the cloud, driven by digital transformation.
• Due to the pandemic and the impending election, hackers have been aggressively targeting corporations with ransomware attacks. CVLT's cloud solutions have been an effective antidote to tackle the threat.
• The company continues to add new customers at a rapid clip, driven by new pricing models, simplified deployment, and new product offerings such as Metallic and HyperScale X.
• Given improving execution, reasonable valuation, and opportunity to gain share, we believe CVLT has favorable risk/reward and is, therefore, a buy.

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