Pivotal Software (PVTL) Shares Gap Down to $19.50

Pivotal Software (NASDAQ:PVTL) gapped down prior to trading on Monday . The stock had previously closed at $20.13, but opened at $19.50. Pivotal Software shares last traded at $19.00, with a volume of 2187151 shares changing hands.

Several research analysts have recently weighed in on PVTL shares. Morgan Stanley reiterated a “buy” rating and issued a $29.00 price target on shares of Pivotal Software in a report on Thursday, September 13th. Barclays reduced their price target on shares of Pivotal Software to $22.00 and set an “equal weight” rating for the company in a report on Thursday, September 13th. Citigroup upped their price target on shares of Pivotal Software from $22.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, September 7th. Credit Suisse Group upped their price target on shares of Pivotal Software from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 13th. Finally, Zacks Investment Research upgraded shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, July 18th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.18.

Pivotal Software (NASDAQ:PVTL) last released its quarterly earnings results on Wednesday, September 12th. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The company had revenue of $164.40 million during the quarter, compared to analyst estimates of $158.12 million. The company’s revenue was up 30.5% compared to the same quarter last year.

Several institutional investors have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new position in Pivotal Software during the second quarter worth $959,000. DSAM Partners London Ltd acquired a new position in Pivotal Software during the second quarter worth $2,798,000. State of New Jersey Common Pension Fund D acquired a new position in Pivotal Software during the second quarter worth $273,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Pivotal Software during the second quarter worth $82,195,000. Finally, Emerald Advisers Inc. PA acquired a new position in Pivotal Software during the second quarter worth $442,000.

Pivotal Software Company Profile (NASDAQ:PVTL)

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.

See Also: Dividend Stocks – Are They Right For You?

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.

Leave a Reply