Shares of cybersecurity firm Commvault Systems (CVLT.O) fall 34.2% to $85, hitting a two-year low
Co forecasts its full-year outlook for annualized recurring revenue (ARR) to 18%, the lower end of its previous forecast of 18%-19% growth
Also trims cash flow outlook to account for charges linked with restructuring However, Q3 results beat expectations, with CVLT raising the midpoint of its FY revenue view to $1.18 bln from $1.16 bln earlier
Rival Rubrik’s (RBRK.N) shares also fall, as investors reassess demand across the data-management and cyber-resilience software space
CVLT shares down about 19% over the past year

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CVLT

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Reuters

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Commvault Systm

Rubrik

BUZZ-Commvault Systems sinks to two-year low after revising recurring revenue guidance to low end of forecast