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Hot Stocks	Starboard Value buys ON Semi, cuts Advance Auto stake in Q4 » 16:10 02/16/21 02/16 16:10 02/16/21 16:10 ON ON Semiconductor $41.81 / +0.525 (+1.27%) , SPY SPDR S&P 500 ETF Trust $392.58 / -0.12 (-0.03%) , ACIW ACI Worldwide $41.34 / +0.06 (+0.15%) , CTVA Corteva $45.26 / +0.84 (+1.89%) , NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) , CVLT Commvault $69.29 / -1.91 (-2.68%) , ACM Aecom $57.67 / +1.64 (+2.93%) , AAP Advance Auto Parts $156.49 / +3.59 (+2.35%) , IWN iShares Russell 2000 Value Index $152.34 / +0.38 (+0.25%) , SCOR Comscore $3.90 / -0.03 (-0.76%) , CERN Cerner $72.76 / -2.195 (-2.93%) , GDOT Green Dot $54.82 / +0.43 (+0.79%) Jeffrey Smith's… Jeffrey Smith's Starboard Value disclosed in an SEC filing its holdings as of December 31, 2020. Starboard's one new buy during the fourth quarter was ON Semiconductor (ON). The fund exited one position during the quarter, namely SPDR S&P 500 ETF Trust (SPY). Starboard increased its stake in eight holdings, including by size of previous position ACI Worldwide (ACIW), Corteva (CTVA), NortonLifeLock (NLOK), Commvault (CVLT), and Aecom (ACM). The fund decreased its stake in six holdings, including by size of previous position Advance Auto (AAP), iShares Russell 2000 Value ETF (IWN), ComScore (SCOR), Cerner (CERN), and Green Dot (GDOT). Starboard's top holdings as of December 31, in order of size, were Corteva, NortonLifeLock, Aecom, ACI Worldwide, and ON Semiconductor. ShowHide Related Items >><< Company News Street Research Earnings Periodicals On The Fly Events Options Technical Analysis SPY SCOR ON NLOK GDOT CVLT CTVA CERN ACM ACIW AAP SPY SPDR S&P 500 ETF Trust $392.58 / -0.12 (-0.03%) 02/01/21 Robinhood raises $3.4B to continue investing in customer growth 01/26/21 Biden announces plans for U.S. to buy 200M extra COVID-19 doses 01/25/21 Minnesota DOH reports first U.S. case of COVID-19 variant first found in Brazil 01/11/21 Gundlach recommends owning emerging markets with deflation hedges SCOR Comscore $3.90 / -0.03 (-0.76%) 02/16/21 Comscore signs new agreement with SHINEZ.io for digital audience measurement 02/12/21 Comscore to provide JOY-CPW with local TV measurement 02/11/21 Comscore reports top broadcast and cable TV programs for last January week 02/10/21 Comscore announces renewal agreement with KDOC-TV in Los Angeles ON ON Semiconductor $41.81 / +0.525 (+1.27%) 01/28/21 ON Semiconductor announces Thad Trent as CFO 01/15/21 ON Semiconductor COO William Schromm to step down 12/07/20 ON Semiconductor names Hassane El-Khoury CEO 11/17/20 ON Semiconductor COO Schromm sells almost $3M in company shares NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) 01/06/21 EverQuote appoints Craig Lister as CMO 12/08/20 Altair CFO Howard Morof to step down, Matthew Brown to succeed 12/07/20 Investcorp to sell cybersecurity provider Avira to NortonLifeLock for ~$360M 12/07/20 NortonLifeLock to acquire Avira for $360M from Investcorp Technology Partners GDOT Green Dot $54.82 / +0.43 (+0.79%) 02/04/21 Green Dot announces Gyorgy Tomso as Chief Technology Officer. 01/29/21 Starboard Value raises Green Dot stake to 9.9% from 8.3% 01/11/21 Green Dot, MoneyGram slip after Walmart announces new fintech startup 11/19/20 Green Dotto work with Google Pay to offer Plex Accounts to customers CVLT Commvault $69.29 / -1.91 (-2.68%) 02/04/21 Commvault appoints SaaS Veteran Isabelle Guis as Chief Marketing Officer 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers CTVA Corteva $45.26 / +0.84 (+1.89%) 02/08/21 Corteva announces CFO Gregory Friedman to retire 02/04/21 Corteva: Restructuring program includes headcount reductions 02/04/21 Corteva board approves restructuring actions to right-size structure 02/03/21 Corteva affirms mid-term targets, including operating EBITDA growth of 12%-16% CERN Cerner $72.76 / -2.195 (-2.93%) 01/21/21 Cerner appoints Marck Erceg as CFO 01/14/21 Microsoft, Oracle, Salseforce, others form Vaccination Credential Initiative 01/14/21 Cerner to provide EHR to 12 behavioral health facilities across Virginia 12/16/20 Cerner to acquire Kantar Health for $375M in cash ACM Aecom $57.67 / +1.64 (+2.93%) 02/16/21 Aecom announces plan to increase adjusted EPS to $4.30 by FY24 12/18/20 Aecom JV secures approximately $800M SCAPE framework contract 12/16/20 Aecom selected to upgrade wastewater treatment plant in Los Angeles 12/11/20 Aecom to partner with BCUA, Columbia University on COVID-19 wastewater testing ACIW ACI Worldwide $41.34 / +0.06 (+0.15%) 02/16/21 ACI Worldwide, Auriga enter pact to launch ATM and self service banking platform 01/26/21 ACI Worldwide selected by Federal Reserve Banks for FedNow Service pilot program 12/02/20 Starboard urges ACI Worldwide to explore alternatives, including possible sale 12/02/20 Starboard urges ACI Worldwide to explore alternatives, including possible sale AAP Advance Auto Parts $156.49 / +3.59 (+2.35%) 02/16/21 Advance Auto Parts CFO says 'optimistic regarding a continued recovery in 2021' 02/16/21 Advance Auto Parts sees FY21 free cash flow minimum of $600M 12/30/20 Four Corners Property Trust acquires property portfolio for $12M 11/13/20 Starboard Value takes Corteva stake, exits eBay ON SPY ACIW CTVA NLOK CVLT ACM AAP IWN SCOR CERN GDOT ON ON Semiconductor $41.81 / +0.525 (+1.27%) 02/10/21 B. Riley Securities B. Riley Securities sees interesting opportunities in Skyworks, Silicon Motion 02/02/21 JPMorgan ON Semiconductor price target raised to $37.50 from $25.50 at JPMorgan 02/02/21 Needham ON Semiconductor price target raised to $45 from $38 at Needham 02/02/21 Craig-Hallum ON Semiconductor price target raised to $43 from $38 at Craig-Hallum SPY SPDR S&P 500 ETF Trust $392.58 / -0.12 (-0.03%) 01/07/21 Credit Suisse Credit Suisse raises 2021 S&P 500 target to 4,200, sees 12% upside 11/09/20 JPMorgan JPMorgan sees S&P 500 hitting 4,000 by early next year 09/01/20 Fed's Brainard says monetary policy to pivot from stabilization to accommodation 08/17/20 Goldman Sachs Goldman boosts end of 2020 S&P 500 target to 3,600 from 3,000 ACIW ACI Worldwide $41.34 / +0.06 (+0.15%) 12/09/20 BTIG ACI Worldwide price target raised to $46 from $39 at BTIG 12/08/20 Craig-Hallum ACI Worldwide price target raised to $46 from $38 at Craig-Hallum 12/02/20 Stephens Stephens upgrades ACI Worldwide to Overweight after Starboard urges sale 12/02/20 Stephens ACI Worldwide upgraded to Overweight from Equal Weight at Stephens CTVA Corteva $45.26 / +0.84 (+1.89%) 02/09/21 Morgan Stanley Corteva price target raised to $50 from $46 at Morgan Stanley 02/05/21 JPMorgan Corteva upgraded to Overweight with $51 target at JPMorgan 02/05/21 RBC Capital Corteva price target raised to $52 from $45 at RBC Capital 02/05/21 Barclays Corteva price target raised to $46 from $37 at Barclays NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) 02/02/21 Morgan Stanley NortonLifeLock assumed at Overweight at Morgan Stanley 09/11/20 Baird Baird sees 'no reason for concern' about NortonLifeLock convertible notes sales 08/21/20 Fly Intel: Top five analyst upgrades 08/21/20 Argus NortonLifeLock upgraded to Buy from Hold at Argus CVLT Commvault $69.29 / -1.91 (-2.68%) 01/29/21 Wells Fargo Commvault price target raised to $75 from $55 at Wells Fargo 01/28/21 Needham Commvault price target raised to $76 from $66 at Needham 01/28/21 Lake Street Commvault price target raised to $68 from $54 at Lake Street 01/28/21 RBC Capital Commvault price target raised to $57 from $48 at RBC Capital ACM Aecom $57.67 / +1.64 (+2.93%) 01/19/21 Citi Aecom price target raised to $69 from $61 at Citi 01/15/21 Barclays Aecom price target raised to $60 from $56 at Barclays 11/17/20 KeyBanc Aecom price target raised to $60 from $45 at KeyBanc 11/17/20 Citi Aecom price target raised to $61 from $56 at Citi AAP Advance Auto Parts $156.49 / +3.59 (+2.35%) 02/16/21 Goldman Sachs Advance Auto Parts price target raised to $157 from $142 at Goldman Sachs 02/01/21 JPMorgan Advance Auto Parts added to Analyst Focus List at JPMorgan 12/18/20 Jefferies Standard Motor price target lowered to $52 from $55 at Jefferies 12/11/20 Jefferies AutoZone upgraded to Buy on 'do-it-for-me' market share gains at Jefferies IWN iShares Russell 2000 Value Index $152.34 / +0.38 (+0.25%) SCOR Comscore $3.90 / -0.03 (-0.76%) 01/11/21 Loop Capital Comscore upgraded to Buy from Hold at Loop Capital 01/11/21 Loop Capital Comscore upgraded to Buy from Hold at Loop Capital 08/19/20 Truist Comscore most likely to remain independent, says Truist CERN Cerner $72.76 / -2.195 (-2.93%) 02/16/21 Piper Sandler Cerner price target raised to $85 from $84 at Piper Sandler 02/11/21 KeyBanc Cerner price target raised to $90 from $82 at KeyBanc 02/11/21 Truist Cerner price target raised to $82 from $72 at Truist 02/11/21 UBS Cerner downgraded to Neutral from Buy at UBS GDOT Green Dot $54.82 / +0.43 (+0.79%) 01/14/21 Northland Northland downgrades Green Dot to Market Perform at start of 'transition year' 01/14/21 Northland Green Dot downgraded to Market Perform from Outperform at Northland 11/05/20 Deutsche Bank Green Dot price target raised to $50 from $48 at Deutsche Bank 11/03/20 Truist Green Dot appears to have won flex debit work at Amazon, says Truist SCOR ON NLOK GDOT CVLT CTVA CERN ACM ACIW AAP SCOR Comscore $3.90 / -0.03 (-0.76%) 11/09/20 Comscore reports Q3 EPS (16c), consensus (19c) ON ON Semiconductor $41.81 / +0.525 (+1.27%) 02/01/21 ON Semiconductor sees Q1 revenue $1.41B-$1.51B, consensus $1.35B 02/01/21 ON Semiconductor reports Q4 EPS 35c, consensus 28c 11/01/20 ON Semiconductor sees Q4 revenue $1.3B-$1.4B, consensus $1.31B 11/01/20 ON Semiconductor reports Q3 EPS 27c, consensus 20c NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) 02/04/21 NortonLifeLock sees Q4 adjusted EPS 37c-39c, consensus 37c 02/04/21 NortonLifeLock reports Q3 adjusted EPS 38c, consensus 37c 02/04/21 Notable companies reporting after market close 11/05/20 NortonLifeLock sees Q3 adjusted EPS 36c-38c, consensus 36c GDOT Green Dot $54.82 / +0.43 (+0.79%) 11/04/20 Green Dot sees 2020 EPS $1.95-$2.00, consensus $1.81 11/04/20 Green Dot reports Q3 EPS 25c, consensus 11c CVLT Commvault $69.29 / -1.91 (-2.68%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M CTVA Corteva $45.26 / +0.84 (+1.89%) 02/03/21 Corteva sees FY21 EPS $1.85-$1.95, consensus $1.81 02/03/21 Corteva reports Q4 EPS 4c, consensus (5c) 02/03/21 Notable companies reporting after market close 11/04/20 Corteva backs FY20 operating EPS view $1.25-$1.45, consensus $1.38 CERN Cerner $72.76 / -2.195 (-2.93%) 02/10/21 Cerner sees FY21 EPS $3.10-$3.20, consensus $3.22 02/10/21 Cerner sees Q1 EPS 72c-76c, consensus 76c 02/10/21 Cerner reports Q4 EPS 78c, consensus 78c 02/10/21 Notable companies reporting after market close ACM Aecom $57.67 / +1.64 (+2.93%) 02/16/21 Aecom reaffirms FY21 adjusted EPS view $2.60-$2.80, consensus $3.13 02/08/21 Aecom raises FY21 EPS view to $2.60-$2.80 from $2.55-$2.75, consensus $2.67 02/08/21 Aecom reports Q1 EPS 62c, consensus 57c 11/16/20 Aecom sees 2021 adj. EPS $2.55-$2.75, consensus $2.46 ACIW ACI Worldwide $41.34 / +0.06 (+0.15%) 01/27/21 ACI Worldwide sees FY20 revenue $1.28B-$1.29B, consensus $1.26B 11/05/20 ACI Worldwide reports Q3 EPS 13c, consensus 14c AAP Advance Auto Parts $156.49 / +3.59 (+2.35%) 02/16/21 Advance Auto Parts sees FY21 revenue $10.1B-$10.3B, consensus $10.19B 02/16/21 Advance Auto Parts reports Q4 adjusted EPS $1.87, consensus $1.97 11/10/20 Advance Auto Parts reports Q3 adjusted EPS $2.81, consensus $2.66 11/09/20 Notable companies reporting before tomorrow's open SPY SCOR ON NLOK GDOT CTVA ACIW SPY SPDR S&P 500 ETF Trust $392.58 / -0.12 (-0.03%) 02/11/21 White House secures deals for additional 200M COVID-19 vaccine doses, CNBC says 02/10/21 Germany extending virus lockdown until March 7, AP reports 02/08/21 Gove says Britain, EU need reset after Northern Ireland threat, Reuters says 02/03/21 Biden indicates openness to sending direct checks to smaller group, WSJ says SCOR Comscore $3.90 / -0.03 (-0.76%) 01/07/21 Comscore near financing deal with Charter, Qurate and Cerberus, WSJ says 01/07/21 Comscore near financing deal with Charter, Qurate and Cerberus, WSJ says ON ON Semiconductor $41.81 / +0.525 (+1.27%) 10/09/20 Starboard makes new bets on Corteva, ON Semiconductor, Reuters reports NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) 12/17/20 Nuclear weapons agency breached amid massive espionage operation, Politico says 09/01/20 Hackers test security of Trump campaign sites ahead of election, Reuters says GDOT Green Dot $54.82 / +0.43 (+0.79%) 10/05/20 Green Dot declines comment to Bloomberg on NetSpend speculation CTVA Corteva $45.26 / +0.84 (+1.89%) 01/21/21 Starboard wants to take control of Corteva's board, replace CEO, WSJ reports 11/19/20 Corteva board backs CEO amid pressure from Starboard, Reuters says ACIW ACI Worldwide $41.34 / +0.06 (+0.15%) 10/22/20 ACI Worldwide pitched as long idea by Starboard's Smith, Bloomberg says SCOR ON NLOK GDOT CTVA AAP SCOR Comscore $3.90 / -0.03 (-0.76%) 11/09/20 Fly Intel: After-Hours Movers ON ON Semiconductor $41.81 / +0.525 (+1.27%) 01/12/21 On, Lumentum seen among top semiconductors takeout candidates for 2021 12/28/20 Kinnate initiations, Nikola target change among today's top calls on Wall Street NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) 09/05/20 Week in review: How Trump's policies moved stocks GDOT Green Dot $54.82 / +0.43 (+0.79%) 01/11/21 Fly Intel: After-Hours Movers CTVA Corteva $45.26 / +0.84 (+1.89%) 02/03/21 Fly Intel: After-Hours Movers 01/21/21 Fly Intel: Wall Street's top stories for Thursday AAP Advance Auto Parts $156.49 / +3.59 (+2.35%) 02/16/21 Fly Intel: Pre-market Movers 12/10/20 Goldman Sachs says buy Floor & Decor, sell Best Buy 11/10/20 Fly Intel: Pre-market Movers 08/18/20 Fly Intel: Pre-market Movers 02/16/21 Advance Auto Parts - AAP 02/22/21 Green Dot - GDOT 02/25/21 ACI Worldwide - ACIW 02/16/21 AECOM Technology Corporation 02/24/21 AECOM Technology Corporation 04/20/21 Advance Auto Parts, Inc. SPY ON NLOK CERN ACM AAP SPY SPDR S&P 500 ETF Trust $392.58 / -0.12 (-0.03%) 11/09/20 Options markets on track for record option volume ON ON Semiconductor $41.81 / +0.525 (+1.27%) 02/12/21 Unusually active option classes on open February 12th 02/09/21 ON Semiconductor call volume above normal and directionally bullish 02/09/21 Unusually active option classes on open February 9th 10/02/20 Unusual call flow in option market yesterday NLOK NortonLifeLock $21.44 / -0.035 (-0.16%) 01/14/21 NortonLifeLock put volume heavy and directionally bearish 01/13/21 NortonLifeLock put volume heavy and directionally bearish 12/28/20 NortonLifeLock put volume heavy and directionally bearish CERN Cerner $72.76 / -2.195 (-2.93%) 09/02/20 Early notable gainers among liquid option names on September 2nd ACM Aecom $57.67 / +1.64 (+2.93%) 09/10/20 Aecom call buyer realizes 5% same-day gains AAP Advance Auto Parts $156.49 / +3.59 (+2.35%) 08/31/20 Advance Auto Parts call volume above normal and directionally bullish SPY SPY SPDR S&P 500 ETF Trust $392.58 / -0.12 (-0.03%) 02/12/21 On The Fly: Weekly technical notes for S&P 500 02/12/21 On The Fly: ETF fund flow highlights 02/12/21 SPDR S&P 500 ETF Trust: Pivot points 02/11/21 SPDR S&P 500 ETF Trust: Pivot points
Hot Stocks	Commvault appoints SaaS Veteran Isabelle Guis as Chief Marketing Officer » 08:32 02/04/21 02/04 08:32 02/04/21 08:32 CVLT Commvault $64.52 / +0.76 (+1.19%) Commvault appointed… Commvault appointed Isabelle Guis as Chief Marketing Officer. Most recently, she was vice president of sales cloud product marketing at Salesforce, where she oversaw product messaging, launches, and innovation for the Sales Cloud portfolio. Prior to Salesforce, she was the chief marketing and strategy officer at Egnyte. Guis has also held executive and senior management roles at EMC Corporation, Big Switch Networks, Avaya, Cisco Systems, and Nortel Networks. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $64.52 / +0.76 (+1.19%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $64.52 / +0.76 (+1.19%) 01/29/21 Wells Fargo Commvault price target raised to $75 from $55 at Wells Fargo 01/28/21 Needham Commvault price target raised to $76 from $66 at Needham 01/28/21 Lake Street Commvault price target raised to $68 from $54 at Lake Street 01/28/21 RBC Capital Commvault price target raised to $57 from $48 at RBC Capital CVLT Commvault $64.52 / +0.76 (+1.19%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M

Over a month ago
Recommendations	Commvault price target raised to $75 from $55 at Wells Fargo » 07:00 01/29/21 01/29 07:00 01/29/21 07:00 CVLT Commvault $63.14 / +3.29 (+5.50%) Wells Fargo analyst Aaron… Wells Fargo analyst Aaron Rakers raised the firm's price target on Commvault to $75 from $55 and keeps an Overweight rating on the shares. Commvault provided what the analyst considers a positive long-term strategic update, of 9%-10% software & products revenue growth with a target of 25%+ EBITDA through FY23, coupled with a positive capital allocation update. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $63.14 / +3.29 (+5.50%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $63.14 / +3.29 (+5.50%) 01/28/21 Needham Commvault price target raised to $76 from $66 at Needham 01/28/21 Lake Street Commvault price target raised to $68 from $54 at Lake Street 01/28/21 RBC Capital Commvault price target raised to $57 from $48 at RBC Capital 01/28/21 Wells Fargo Commvault price target raised to $75 from $55 at Wells Fargo CVLT Commvault $63.14 / +3.29 (+5.50%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M
Recommendations	Commvault price target raised to $76 from $66 at Needham » 09:16 01/28/21 01/28 09:16 01/28/21 09:16 CVLT Commvault $59.89 / -0.8 (-1.32%) Needham analyst Jack… Needham analyst Jack Andrews raised the firm's price target on Commvault to $76 from $66 and keeps a Buy rating on the shares. In its Investor Day presentation yesterday, the company's management detailed how the culmination of investments in its products, migration of its customer base to subscriptions, and go-to-market changes emphasizing operational discipline are contributing to its "improved posture" for addressing the larger and more modern requirements of Intelligent Data Management, the analyst tells investors in a research note. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $59.89 / -0.8 (-1.32%) 01/28/21 Lake Street Commvault price target raised to $68 from $54 at Lake Street 01/28/21 RBC Capital Commvault price target raised to $57 from $48 at RBC Capital 01/28/21 Wells Fargo Commvault price target raised to $75 from $55 at Wells Fargo 01/28/21 Piper Sandler Commvault price target raised to $70 from $68 at Piper Sandler CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M
Recommendations	Commvault price target raised to $68 from $54 at Lake Street » 09:07 01/28/21 01/28 09:07 01/28/21 09:07 CVLT Commvault $59.89 / -0.8 (-1.32%) Lake Street analyst Eric… Lake Street analyst Eric Martinuzzi raised the firm's price target on Commvault to $68 from $54 and keeps a Buy rating on the shares, stating that he sees the company's "excellent" Q3 results and "solid" guidance as further evidence of recovery. Martinuzzi also noted that Commvault said it will be more aggressive over the next 14 months in terms of buying back stock. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $59.89 / -0.8 (-1.32%) 01/28/21 RBC Capital Commvault price target raised to $57 from $48 at RBC Capital 01/28/21 Wells Fargo Commvault price target raised to $75 from $55 at Wells Fargo 01/28/21 Piper Sandler Commvault price target raised to $70 from $68 at Piper Sandler 01/25/21 Needham Commvault price target raised to $66 from $60 at Needham CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M

Recommendations	Commvault price target raised to $57 from $48 at RBC Capital » 07:55 01/28/21 01/28 07:55 01/28/21 07:55 CVLT Commvault $59.89 / -0.8 (-1.32%) RBC Capital analyst Dan… RBC Capital analyst Dan Bergstrom raised the firm's price target on Commvault to $57 from $48 but keeps a Sector Perform rating on the shares. The company's Q3 results were ahead of expectations as its transition to subscription revenue "continues to build", the analyst tells investors in a research note. Bergstrom adds that while the stock is valued at 3-times enterprise value to expected sales vs. its peer group mean of 5-times, the discount reflects Commvault's "inconsistency over the last several quarters" and the recently reduced estimates. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $59.89 / -0.8 (-1.32%) 01/28/21 Wells Fargo Commvault price target raised to $75 from $55 at Wells Fargo 01/28/21 Piper Sandler Commvault price target raised to $70 from $68 at Piper Sandler 01/25/21 Needham Commvault price target raised to $66 from $60 at Needham 01/13/21 KeyBanc Commvault upgraded to Overweight on upcoming catalysts at KeyBanc CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M
Recommendations	Commvault price target raised to $75 from $55 at Wells Fargo » 07:35 01/28/21 01/28 07:35 01/28/21 07:35 CVLT Commvault $59.89 / -0.8 (-1.32%) Wells Fargo analyst Aaron… Wells Fargo analyst Aaron Rakers raised the firm's price target on Commvault to $75 from $55 and keeps an Overweight rating on the shares. The analyst notes that Commvault reported "strong" Q3 upside tand provided what he considers a positive long-term strategic update. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $59.89 / -0.8 (-1.32%) 01/28/21 Piper Sandler Commvault price target raised to $70 from $68 at Piper Sandler 01/25/21 Needham Commvault price target raised to $66 from $60 at Needham 01/13/21 KeyBanc Commvault upgraded to Overweight on upcoming catalysts at KeyBanc 01/13/21 KeyBanc Commvault upgraded to Overweight from Sector Weight at KeyBanc CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M
Recommendations	Commvault price target raised to $70 from $68 at Piper Sandler » 06:05 01/28/21 01/28 06:05 01/28/21 06:05 CVLT Commvault $59.89 / -0.8 (-1.32%) Piper Sandler analyst… Piper Sandler analyst James Fish raised the firm's price target on Commvault to $70 from $68 and keeps an Overweight rating on the shares following the company's analyst day. Commvault has hit the point in its transition of "inflecting results," with growth over the next few years projected higher than Street estimates and imply share gains, Fish tells investors in a research note. ShowHide Related Items >><< Company News Street Research Earnings CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $59.89 / -0.8 (-1.32%) 01/25/21 Needham Commvault price target raised to $66 from $60 at Needham 01/13/21 KeyBanc Commvault upgraded to Overweight on upcoming catalysts at KeyBanc 01/13/21 KeyBanc Commvault upgraded to Overweight from Sector Weight at KeyBanc 01/12/21 Piper Sandler Commvault upgraded to Overweight from Neutral at Piper Sandler CVLT Commvault $59.89 / -0.8 (-1.32%) 01/27/21 Commvault sees 2021 EPS $2.00, consensus $1.90 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M
Earnings	Commvault sees 2021 EPS $2.00, consensus $1.90 » 13:02 01/27/21 01/27 13:02 01/27/21 13:02 CVLT Commvault $59.00 / -1.69 (-2.78%) Sees 2021 revenue $714M,… Sees 2021 revenue $714M, consensus $695.34M. Comments taken from FutureReady investor event. ShowHide Related Items >><< Company News Street Research Earnings Events CVLT Commvault $59.00 / -1.69 (-2.78%) 01/27/21 Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth CVLT Commvault $59.00 / -1.69 (-2.78%) 01/25/21 Needham Commvault price target raised to $66 from $60 at Needham 01/13/21 KeyBanc Commvault upgraded to Overweight on upcoming catalysts at KeyBanc 01/13/21 KeyBanc Commvault upgraded to Overweight from Sector Weight at KeyBanc 01/12/21 Piper Sandler Commvault upgraded to Overweight from Neutral at Piper Sandler CVLT Commvault $59.00 / -1.69 (-2.78%) 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M 10/27/20 Commvault reports Q2 non-GAAP EPS 45c, consensus 35c 01/27/21 Commvault - CVLT 01/27/21 Commvault
Hot Stocks	Commvault expects FY23 recurring revenue to approach 80%-85% of total revenue » 12:39 01/27/21 01/27 12:39 01/27/21 12:39 CVLT Commvault $58.42 / -2.27 (-3.74%) Sees non-GAAP sales &… Sees non-GAAP sales & marketing spend as 41% of revenue in FY21. Sees non-GAAP sales & marketing spend as 38% of revenue in FY23. Says gross margins are normalizing. Says committed to $200M in share repurchase through year-end 2022. Says will commit approximately 75% of FCF to additional share repurchases beginning in 2022. Says targeting non-GAAP EBITDA margin of approx. 25% in FY23. Says targeting sustainable double-digit EPS growth through FY23. Says aspiring to attain Rule of 40. Comments taken from FutureReady investor event. ShowHide Related Items >><< Company News Street Research Earnings Events CVLT Commvault $58.42 / -2.27 (-3.74%) 01/27/21 Commvault says on path to deliver over 25% EBITDA through FY23 10/27/20 Commvault says ransomware 'top of mind' with customers 10/27/20 Commvault sees 'cloud-first' strategy leading return to growth 09/15/20 Commvault achieves AWS Outposts Ready designation CVLT Commvault $58.42 / -2.27 (-3.74%) 01/25/21 Needham Commvault price target raised to $66 from $60 at Needham 01/13/21 KeyBanc Commvault upgraded to Overweight on upcoming catalysts at KeyBanc 01/13/21 KeyBanc Commvault upgraded to Overweight from Sector Weight at KeyBanc 01/12/21 Piper Sandler Commvault upgraded to Overweight from Neutral at Piper Sandler CVLT Commvault $58.42 / -2.27 (-3.74%) 01/27/21 Commvault sees Q4 EPS 46c, consensus 47c 01/27/21 Commvault reports Q3 non-GAAP EPS 57c, consensus 47c 10/27/20 Commvault sees Q3 revenue $174M-$176M, consensus $172.9M 10/27/20 Commvault reports Q2 non-GAAP EPS 45c, consensus 35c 01/27/21 Commvault - CVLT 01/27/21 Commvault

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