Why Commvault Systems Stock Got Slammed Today
Cybersecurity and data protection specialist Commvault Systems (NASDAQ: CVLT) couldn't escape the stock market rout on Tuesday. Compounding the generally gloomy investor sentiment prevalent that day, an analyst lowered his price target on the company's equity.
The downgrading party was Truist Securities, in the person of pundit Junaid Siddiqui. That morning, Siddiqui significantly reduced his Commvault price target. He now believes the stock is worth $175 per share, down from his previous estimation of $210. Despite the chop, he maintained his buy recommendation.
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Source Fool.com
