Barclays Lowers Pivotal Software (PVTL) Price Target to $21.00

Share on StockTwits

Pivotal Software (NASDAQ:PVTL) had its target price reduced by research analysts at Barclays from $23.00 to $21.00 in a research note issued on Friday. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 3.00% from the stock’s current price.

Several other research firms have also recently weighed in on PVTL. Goldman Sachs Group cut shares of Pivotal Software from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $24.00 in a research report on Wednesday, March 6th. Wedbush upped their price objective on shares of Pivotal Software from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America restated a “neutral” rating and issued a $25.00 price objective (up from $22.00) on shares of Pivotal Software in a research report on Friday. Needham & Company LLC upped their price objective on shares of Pivotal Software from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Finally, Zacks Investment Research upgraded shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Saturday, December 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $23.77.

Shares of PVTL stock traded down $0.75 during trading on Friday, hitting $21.65. The company had a trading volume of 85,472 shares, compared to its average volume of 1,910,127. Pivotal Software has a 52 week low of $14.43 and a 52 week high of $31.24.

Pivotal Software (NASDAQ:PVTL) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.05). The company had revenue of $169.20 million for the quarter, compared to the consensus estimate of $170.21 million. The company’s revenue was up 27.0% compared to the same quarter last year.

In other Pivotal Software news, President William Cook sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Onsi Fakhouri sold 13,700 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $22.49, for a total transaction of $308,113.00. The disclosure for this sale can be found here. Insiders have sold 169,949 shares of company stock worth $3,549,191 over the last quarter.

Several institutional investors have recently modified their holdings of PVTL. FMR LLC grew its holdings in shares of Pivotal Software by 179.1% in the fourth quarter. FMR LLC now owns 5,186,120 shares of the company’s stock worth $84,793,000 after purchasing an additional 3,328,120 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Pivotal Software by 1,232.4% in the fourth quarter. Bank of America Corp DE now owns 2,827,457 shares of the company’s stock worth $46,229,000 after purchasing an additional 2,615,254 shares during the last quarter. SQN Investors LP grew its holdings in shares of Pivotal Software by 2,772.5% in the third quarter. SQN Investors LP now owns 1,726,349 shares of the company’s stock worth $33,802,000 after purchasing an additional 1,666,250 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Pivotal Software by 88.1% in the third quarter. Wells Fargo & Company MN now owns 2,890,993 shares of the company’s stock worth $56,606,000 after purchasing an additional 1,353,731 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Pivotal Software in the fourth quarter worth approximately $15,533,000.

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.

Further Reading: How accurate is the Rule of 72?

Analyst Recommendations for Pivotal Software (NASDAQ:PVTL)

Receive News & Ratings for Pivotal Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pivotal Software and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

28,900 Shares in SPDR Wells Fargo Preferred Stock ETF  Purchased by RFG Advisory LLC
28,900 Shares in SPDR Wells Fargo Preferred Stock ETF Purchased by RFG Advisory LLC
Sulzer  and Colfax  Head to Head Survey
Sulzer and Colfax Head to Head Survey
Smith Moore & CO. Trims Holdings in Nuveen AMT-Free Municipal Credit Income
Smith Moore & CO. Trims Holdings in Nuveen AMT-Free Municipal Credit Income
56,316 Shares in Vanguard Dividend Appreciation ETF  Purchased by Howard Financial Services LTD.
56,316 Shares in Vanguard Dividend Appreciation ETF Purchased by Howard Financial Services LTD.
RFG Advisory LLC Purchases New Holdings in Welltower Inc
RFG Advisory LLC Purchases New Holdings in Welltower Inc
Howard Financial Services LTD. Acquires New Holdings in Southwest Airlines Co
Howard Financial Services LTD. Acquires New Holdings in Southwest Airlines Co


© 2006-2019 Ticker Report