Zacks Investment Research upgraded shares of Pivotal Software (NYSE:PVTL) from a hold rating to a buy rating in a research report report published on Friday, Zacks.com reports. They currently have $17.00 target price 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 research firms have also recently weighed in on PVTL. Citigroup lifted their target price on Pivotal Software from $14.00 to $15.00 and gave the company a neutral rating in a research note on Friday, September 6th. Bank of America cut Pivotal Software from a neutral rating to an underperform rating and lowered their target price for the company from $16.00 to $12.00 in a research note on Tuesday, June 25th. Needham & Company LLC cut Pivotal Software from a buy rating to a hold rating in a research note on Friday, August 23rd. Credit Suisse Group cut Pivotal Software from an outperform rating to a neutral rating and lowered their target price for the company from $20.00 to $15.00 in a research note on Monday, August 26th. Finally, Barclays lowered their target price on Pivotal Software from $21.00 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $17.30.
Pivotal Software (NYSE:PVTL) last released its earnings results on Wednesday, September 4th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. Pivotal Software had a negative return on equity of 9.92% and a negative net margin of 18.66%. The company had revenue of $193.00 million for the quarter, compared to analysts’ expectations of $186.50 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, research analysts predict that Pivotal Software will post -0.45 earnings per share for the current year.
In related news, CFO Cynthia Gaylor sold 6,297 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.34, for a total value of $71,407.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew M. Cohen sold 4,240 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.27, for a total value of $47,784.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,658 shares of company stock valued at $572,236. 64.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. AdvisorNet Financial Inc acquired a new position in shares of Pivotal Software during the second quarter worth approximately $32,000. BNP Paribas Arbitrage SA lifted its holdings in shares of 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 buying an additional 1,049 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Pivotal Software during the second quarter valued at approximately $34,000. Resources Investment Advisors LLC. bought a new stake in shares of Pivotal Software during the second quarter valued at approximately $45,000. Finally, Neuburgh Advisers LLC increased its position in shares of Pivotal Software by 131.1% during the second quarter. Neuburgh Advisers LLC now owns 5,472 shares of the company’s stock valued at $58,000 after purchasing an additional 3,104 shares during the period. Hedge funds and other institutional investors own 24.90% of the company’s stock.
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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