CommVault Systems' stock price surged 5.09% during intraday trading on Wednesday, showing significant upward momentum.
The movement comes amid a flurry of analyst actions on the stock. Several firms, including Stephens, Truist Securities, RBC, D.A. Davidson, Wells Fargo, Oppenheimer, and Mizuho, have cut their price targets for CommVault. However, despite these reductions, other analysts have maintained positive ratings on the company.
Keybanc and Stephens & Co. have maintained their Overweight ratings on the stock, while D.A. Davidson has maintained a Buy rating. This mixed sentiment suggests that while some analysts are adjusting their valuation expectations, others remain bullish on the company's prospects, which may be contributing to the positive price action.