10 Best Low Beta Tech Stocks to Buy According to Analysts

2. Commvault Systems Inc. (NASDAQ:CVLT)

Beta: 0.62

Potential Upside: 11%

Number of Hedge Fund Holders: 35

Commvault Systems Inc. (NASDAQ:CVLT) is a data protection and information management software company. The company provides solutions for data backup and recovery, cloud and infrastructure management, retention, and compliance. Its software platform helps organizations protect, access, and use all of their data, anywhere and anytime.

A William Blair analyst upgraded Commvault Systems Inc. (NASDAQ:CVLT) to Outperform from Market Perform, citing strong growth potential in the evolving backup and recovery market which is now becoming a critical cybersecurity concern. The analyst sees the company’s operating leverage as a key driver for future growth, especially as the impact of recent acquisitions stabilizes. The company is well-positioned for revenue and earnings growth with economies of scale and expanded cross-selling opportunities. According to the analyst, better revenue and earnings will be the primary catalyst for Commvault Systems Inc. (NASDAQ:CVLT)’s valuation rather than multiple expansion.