Oppenheimer analyst Param Singh initiated coverage on Commvault Systems (CVLT) with an Outperform rating and a $200 price target. The analyst believes Commvault is well-positioned to capitalize on the growing demand for data backup and recovery solutions, driven by factors like the increasing importance of data, data security breaches, and the shift to as-a-service platforms. Singh anticipates strong customer growth, market share gains, and a significant increase in SaaS ARR for Commvault in the coming years.