Pivotal Software (NYSE:PVTL) Upgraded at Zacks Investment Research

Share on StockTwits

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.

Shares of PVTL opened at $14.89 on Friday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.09. Pivotal Software has a 1-year low of $8.03 and a 1-year high of $24.39. The business’s 50-day moving average price is $12.32 and its 200 day moving average price is $16.12. The stock has a market capitalization of $4.04 billion, a P/E ratio of -23.63 and a beta of -0.46.

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.

Further Reading: Straddles

Get a free copy of the Zacks research report on Pivotal Software (PVTL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pivotal Software (NYSE: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

Aptinyx Inc  Receives Average Rating of “Buy” from Brokerages
Aptinyx Inc Receives Average Rating of “Buy” from Brokerages
MGIC Investment  Shares Gap Up  Following Earnings Beat
MGIC Investment Shares Gap Up Following Earnings Beat
Zions Bancorporation NA Target of Unusually Large Options Trading
Zions Bancorporation NA Target of Unusually Large Options Trading
Eltek  Upgraded by ValuEngine to “Buy”
Eltek Upgraded by ValuEngine to “Buy”
BRAMBLES LTD/S  Rating Lowered to Sell at ValuEngine
BRAMBLES LTD/S Rating Lowered to Sell at ValuEngine
TD Ameritrade  Lifted to Hold at ValuEngine
TD Ameritrade Lifted to Hold at ValuEngine


© 2006-2019 Ticker Report