Pivotal Software (NYSE:PVTL) has been assigned a consensus rating of “Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $18.50.
Several equities research analysts have recently commented on the stock. Barclays decreased their target price on shares of 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. Needham & Company LLC decreased their target price on shares of Pivotal Software from $28.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Zacks Investment Research raised shares of 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. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Pivotal Software in a research report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Pivotal Software from $26.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, June 5th.
Shares of NYSE:PVTL traded up $5.70 during midday trading on Thursday, hitting $14.00. 31,212,877 shares of the company’s stock were exchanged, compared to its average volume of 2,366,204. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a 50 day moving average price of $9.96 and a 200-day moving average price of $16.79. The company has a market cap of $2.30 billion, a PE ratio of -22.22 and a beta of -0.02. Pivotal Software has a 12 month low of $8.03 and a 12 month high of $29.15.
Pivotal Software (NYSE:PVTL) last posted its earnings results on Tuesday, June 4th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $185.72 million during the quarter, compared to the consensus estimate of $184.12 million. Pivotal Software had a negative net margin of 20.53% and a negative return on equity of 10.67%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, analysts anticipate that Pivotal Software will post -0.15 EPS for the current fiscal year.
In other news, SVP Onsi Fakhouri sold 6,250 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $11.35, for a total transaction of $70,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew M. Cohen sold 4,240 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $11.27, for a total transaction of $47,784.80. The disclosure for this sale can be found here. Insiders sold a total of 50,658 shares of company stock valued at $572,236 over the last ninety days. 64.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Pivotal Software during the 1st quarter valued at approximately $30,000. AdvisorNet Financial Inc bought a new position in shares of Pivotal Software during the 2nd quarter valued at approximately $32,000. BNP Paribas Arbitrage SA lifted its stake in shares of Pivotal Software by 195.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $33,000 after buying an additional 1,049 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Pivotal Software during the 2nd quarter valued at approximately $34,000. Finally, Advisor Group Inc. lifted its stake in shares of Pivotal Software by 267.9% during the 4th quarter. Advisor Group Inc. now owns 2,704 shares of the company’s stock valued at $44,000 after buying an additional 1,969 shares in the last quarter. 26.57% of the stock is owned by hedge funds and other institutional investors.
About Pivotal Software
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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