Pivotal Software (NASDAQ:PVTL) Receives $20.22 Average Target Price from Analysts

Pivotal Software (NASDAQ:PVTL) has received a consensus rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.22.

A number of brokerages have recently weighed in on PVTL. KeyCorp cut their price objective on Pivotal Software from $27.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, June 5th. Bank of America reissued a “neutral” rating and issued a $25.00 price objective (up from $22.00) on shares of Pivotal Software in a report on Friday, March 15th. Needham & Company LLC cut their price objective on Pivotal Software from $28.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Wedbush lowered Pivotal Software from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a report on Wednesday, June 5th. Finally, William Blair reissued an “outperform” rating on shares of Pivotal Software in a report on Wednesday, June 5th.

Shares of NASDAQ:PVTL opened at $11.49 on Wednesday. Pivotal Software has a 1 year low of $10.10 and a 1 year high of $29.15.

Pivotal Software (NASDAQ:PVTL) last announced its earnings results on Tuesday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The business had revenue of $185.72 million for the quarter, compared to analyst estimates of $184.12 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis.

In related news, President William Cook sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $20.73, for a total transaction of $621,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert C. Mee sold 21,135 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.30, for a total value of $238,825.50. The disclosure for this sale can be found here. Insiders sold 130,208 shares of company stock worth $2,303,716 over the last three months.

A number of institutional investors have recently bought and sold shares of PVTL. FMR LLC grew its holdings in Pivotal Software by 104.1% during the first quarter. FMR LLC now owns 10,583,689 shares of the company’s stock worth $220,670,000 after acquiring an additional 5,397,569 shares during the period. Bank of America Corp DE grew its holdings in 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 acquiring an additional 2,615,254 shares during the period. SQN Investors LP grew its holdings in Pivotal Software by 76.7% during the fourth quarter. SQN Investors LP now owns 3,049,792 shares of the company’s stock worth $49,864,000 after acquiring an additional 1,323,443 shares during the period. Norges Bank acquired a new stake in Pivotal Software during the fourth quarter worth about $15,533,000. Finally, Two Sigma Investments LP grew its holdings in 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 acquiring an additional 621,143 shares during the period.

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.

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Analyst Recommendations for Pivotal Software (NASDAQ:PVTL)

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