Zacks Investment Research upgraded shares of Pivotal Software (NASDAQ:PVTL) from a hold rating to a buy rating in a research report released on Saturday morning. They currently have $19.00 price target on the stock.
According to Zacks, “Pivotal Software Inc. provides platform-as-a-service solutions. The Company serves automotive, financial services, industrial, insurance, media, retail, technology and telecommunications sectors. Pivotal Software Inc. is based in San Francisco, United States. “
Several other brokerages have also recently issued reports on PVTL. Wedbush began coverage on shares of Pivotal Software in a research note on Thursday, October 18th. They set an outperform rating and a $25.00 price objective for the company. Citigroup upped their price target on shares of Pivotal Software from $22.00 to $28.00 and gave the stock a neutral rating in a research report on Friday, September 7th. Barclays decreased their price target on shares of Pivotal Software to $22.00 and set an equal weight rating for the company in a research report on Thursday, September 13th. Morgan Stanley reaffirmed a buy rating and set a $29.00 price target on shares of Pivotal Software in a research report on Thursday, September 13th. Finally, Needham & Company LLC began coverage on shares of Pivotal Software in a research report on Monday, October 22nd. They set a buy rating and a $25.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $23.23.
Shares of NASDAQ PVTL opened at $17.39 on Friday. Pivotal Software has a 52-week low of $15.11 and a 52-week high of $31.24.
Pivotal Software (NASDAQ:PVTL) last announced its quarterly earnings data on Tuesday, December 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. The company had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $164.11 million. Pivotal Software’s revenue was up 30.3% on a year-over-year basis.
In other Pivotal Software news, SVP Andrew M. Cohen sold 25,800 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $20.02, for a total value of $516,516.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Edward Hieatt sold 44,792 shares of the company’s stock in a transaction dated Friday, October 19th. The shares were sold at an average price of $20.00, for a total transaction of $895,840.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,592 shares of company stock valued at $2,012,356.
A number of large investors have recently bought and sold shares of the business. Morgan Stanley boosted its position in Pivotal Software by 99.1% in the 3rd quarter. Morgan Stanley now owns 237,411 shares of the company’s stock valued at $4,648,000 after buying an additional 118,168 shares during the last quarter. Man Group plc purchased a new position in Pivotal Software in the 3rd quarter valued at about $3,181,000. SQN Investors LP boosted its position in Pivotal Software by 2,772.5% in the 3rd quarter. SQN Investors LP now owns 1,726,349 shares of the company’s stock valued at $33,802,000 after buying an additional 1,666,250 shares during the last quarter. Paloma Partners Management Co purchased a new position in Pivotal Software in the 3rd quarter valued at about $200,000. Finally, Steadfast Capital Management LP boosted its position in Pivotal Software by 20.0% in the 3rd quarter. Steadfast Capital Management LP now owns 2,757,450 shares of the company’s stock valued at $53,991,000 after buying an additional 458,766 shares during the last quarter.
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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