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home / news releases / CVLT - Commvault Systems downgraded to neutral at Piper Sandler citing supply chain issues

CVLT - Commvault Systems downgraded to neutral at Piper Sandler citing supply chain issues

Commvault Systems Inc.
  • Commvault Systems ( NASDAQ: CVLT ) shares down ~7% after Piper Sandler analyst James Fish cut the recommendation to neutral from overweight, citing a deterioration in supply chains during the quarter.
  • Price target set to $69 from $78, implying a 8% increase from last price.
  • James Fish says supply chain issues should start to normalize in 2H22, and more materially in 2023.
  • CVLT stock opened at $63.91 and is currently changing hands at $59.33, very close to fifty-two week low of $56.
  • The company is all set to release it's FQ1 earnings on July 26, before market opens.

For further details see:

Commvault Systems downgraded to neutral at Piper Sandler citing supply chain issues
Stock Information
Company Name: Commvault Systems Inc.
Stock Symbol: CVLT
Market: NASDAQ
Website: commvault.com
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