Wedbush reissued their neutral rating on shares of Pivotal Software (NYSE:PVTL) in a research report report published on Thursday morning, 24/7 WallStreet reports. The firm currently has a $15.00 target price on the stock.
Several other analysts also recently weighed in on PVTL. Credit Suisse Group restated an outperform rating and set a $20.00 price objective (down from $25.00) on shares of Pivotal Software in a research report on Wednesday, June 5th. William Blair restated an outperform rating on shares of Pivotal Software in a research report on Wednesday, June 5th. Needham & Company LLC dropped their price objective on Pivotal Software from $28.00 to $21.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Barclays dropped their price objective on Pivotal Software from $21.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, June 5th. Finally, Zacks Investment Research upgraded Pivotal Software from a sell rating to a buy rating and set a $11.00 price objective for the company in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $18.50.
Shares of PVTL stock opened at $14.00 on Thursday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.10. Pivotal Software has a twelve month low of $8.03 and a twelve month high of $29.15. The company has a market cap of $3.81 billion, a P/E ratio of -22.22 and a beta of -0.02. The business has a fifty day simple moving average of $10.03 and a 200 day simple moving average of $16.77.
Pivotal Software (NYSE:PVTL) last announced its quarterly earnings data on Tuesday, June 4th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Pivotal Software had a negative return on equity of 10.67% and a negative net margin of 20.53%. The business had revenue of $185.72 million during the quarter, compared to the consensus estimate of $184.12 million. During the same period in the prior year, the company earned ($0.10) EPS. Pivotal Software’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that Pivotal Software will post -0.15 earnings per share for the current fiscal year.
In other news, SVP Onsi Fakhouri sold 6,250 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $11.35, for a total value of $70,937.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President William Cook sold 12,736 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $11.25, for a total value of $143,280.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,658 shares of company stock valued at $572,236. Insiders own 64.90% of the company’s stock.
Several hedge funds have recently modified their holdings of PVTL. FNY Investment Advisers LLC acquired a new stake in Pivotal Software during the first quarter worth approximately $30,000. AdvisorNet Financial Inc acquired a new stake in Pivotal Software during the second quarter worth approximately $32,000. BNP Paribas Arbitrage SA grew its stake in Pivotal Software by 195.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock worth $33,000 after purchasing an additional 1,049 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Pivotal Software during the second quarter worth approximately $34,000. Finally, Advisor Group Inc. boosted its holdings in Pivotal Software by 267.9% in the fourth quarter. Advisor Group Inc. now owns 2,704 shares of the company’s stock worth $44,000 after acquiring an additional 1,969 shares in the last quarter. 26.57% of the stock is owned by institutional investors.
Pivotal Software Company Profile
Pivotal Software, Inc, together with its subsidiaries, provides an integrated solution that combines a cloud-native application platform and services in the United States. Its cloud-native platform, Pivotal Cloud Foundry (PCF), accelerates and streamlines software development by reducing the complexity of building, deploying, and operating modern applications.
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