Pivotal Software (PVTL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Pivotal Software (NASDAQ:PVTL) have earned a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.18.

PVTL has been the subject of a number of research reports. Zacks Investment Research raised Pivotal Software from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Saturday, December 15th. Goldman Sachs Group downgraded Pivotal Software from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $24.00 in a report on Wednesday, March 6th. Morgan Stanley lifted their target price on Pivotal Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Wedbush lifted their target price on Pivotal Software from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Finally, Bank of America reaffirmed a “neutral” rating and set a $25.00 target price (up previously from $22.00) on shares of Pivotal Software in a report on Friday, March 15th.

In other news, CEO Robert C. Mee sold 75,716 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $19.85, for a total value of $1,502,962.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William Cook sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $20.73, for a total value of $621,900.00. The disclosure for this sale can be found here. Insiders sold 401,843 shares of company stock valued at $8,210,345 over the last 90 days.

Several institutional investors and hedge funds have recently modified their holdings of PVTL. FMR LLC increased its position in shares of Pivotal Software by 179.1% during 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 in the last quarter. Bank of America Corp DE increased its position in shares of Pivotal Software by 1,232.4% during 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 in the last quarter. SQN Investors LP increased its position in shares of Pivotal Software by 2,772.5% during 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 in the last quarter. Norges Bank purchased a new stake in shares of Pivotal Software during the fourth quarter worth approximately $15,533,000. Finally, Two Sigma Investments LP increased its position in shares of Pivotal Software by 729.3% during the fourth quarter. Two Sigma Investments LP now owns 706,308 shares of the company’s stock worth $11,548,000 after purchasing an additional 621,143 shares in the last quarter.

NASDAQ PVTL traded down $0.22 during trading on Friday, hitting $19.73. The company’s stock had a trading volume of 7,534 shares, compared to its average volume of 1,917,834. Pivotal Software has a fifty-two week low of $14.43 and a fifty-two week high of $31.24.

Pivotal Software (NASDAQ:PVTL) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $169.20 million during the quarter, compared to analyst estimates of $170.21 million. Pivotal Software’s quarterly revenue was up 27.0% on a year-over-year basis.

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.

Featured Article: Understanding Average Daily Trade Volume

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.