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.
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.
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