UPDATE: Jefferies Starts CommVault Systems (CVLT) at Hold

(Updated - November 21, 2014 8:37 AM EST)

Jefferies initiated coverage on CommVault Systems (NASDAQ: CVLT) with a Hold rating and a price target of $50.00.

Analyst John DiFucci commented, "We are not yet comfortable this story is sufficiently de-risked, despite what appears to be very conservative expectations heading into the December quarter. We have a positive bias toward CommVault with deep respect for management, the company’s innovative technology, and its consistent market share gains over the past several years. That said, we opt for the sidelines until we can be comfortable the story has truly bottomed."

For an analyst ratings summary and ratings history on CommVault Systems click here. For more ratings news on CommVault Systems click here.

Shares of CommVault Systems closed at $47.74 yesterday.

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