Pivotal Software (NASDAQ:PVTL) Given Average Recommendation of “Hold” by Analysts

Pivotal Software (NASDAQ:PVTL) has been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $19.33.

A number of research analysts have commented on PVTL shares. KeyCorp reiterated an “overweight” rating and set a $46.00 price target on shares of FirstEnergy in a research report on Wednesday, June 5th. Credit Suisse Group reaffirmed an “outperform” rating on shares of in a research report on Wednesday, June 5th. Barclays reaffirmed an “overweight” rating and issued a GBX 3,150 ($41.16) price target on shares of in a research report on Wednesday, June 5th. Wedbush set a $39.00 price target on Allena Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of GrubHub in a research report on Wednesday, June 5th.

In other news, SVP Andrew M. Cohen sold 12,900 shares of Pivotal Software stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $21.60, for a total value of $278,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Onsi Fakhouri sold 6,250 shares of Pivotal Software stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $11.35, for a total value of $70,937.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,558 shares of company stock valued at $1,484,176.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVTL. FMR LLC increased its holdings in Pivotal Software by 104.1% in the 1st quarter. FMR LLC now owns 10,583,689 shares of the company’s stock worth $220,670,000 after buying an additional 5,397,569 shares in the last quarter. Bank of America Corp DE increased its holdings in Pivotal Software by 1,232.4% in the 4th quarter. Bank of America Corp DE now owns 2,827,457 shares of the company’s stock worth $46,229,000 after buying an additional 2,615,254 shares in the last quarter. SQN Investors LP increased its holdings in Pivotal Software by 76.7% in the 4th quarter. SQN Investors LP now owns 3,049,792 shares of the company’s stock worth $49,864,000 after buying an additional 1,323,443 shares in the last quarter. Norges Bank bought a new stake in Pivotal Software in the 4th quarter worth about $15,533,000. Finally, Two Sigma Investments LP increased its holdings in Pivotal Software by 729.3% in the 4th quarter. Two Sigma Investments LP now owns 706,308 shares of the company’s stock worth $11,548,000 after buying an additional 621,143 shares in the last quarter.

PVTL traded down $0.29 on Friday, reaching $10.09. The company had a trading volume of 1,313,493 shares, compared to its average volume of 2,193,773. The business has a 50 day moving average of $11.66. Pivotal Software has a 52-week low of $9.89 and a 52-week 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 for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $185.72 million during the quarter, compared to analysts’ expectations of $184.12 million. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) earnings per share.

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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Analyst Recommendations for Pivotal Software (NASDAQ:PVTL)

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