Zacks Investment Research upgraded shares of Pivotal Software (NYSE:PVTL) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. Zacks Investment Research currently has $17.00 price objective on the stock.
According to Zacks, “Pivotal Software Inc. provides platform-as-a-service solutions. The Company serves automotive, financial services, industrial, insurance, media, retail, technology and telecommunications sectors. Pivotal Software Inc. is based in San Francisco, United States. “
A number of other equities analysts have also weighed in on PVTL. Needham & Company LLC lowered Pivotal Software from a buy rating to a hold rating in a research report on Friday, August 23rd. Royal Bank of Canada reissued a sector perform rating on shares of Pivotal Software in a research note on Monday, September 9th. Wedbush reissued a neutral rating and issued a $15.00 price objective on shares of Pivotal Software in a research note on Thursday, August 15th. William Blair downgraded Pivotal Software from an outperform rating to a market perform rating in a research note on Friday, August 23rd. Finally, Credit Suisse Group downgraded Pivotal Software from an outperform rating to a neutral rating and reduced their price objective for the stock from $20.00 to $15.00 in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Pivotal Software currently has a consensus rating of Hold and a consensus price target of $17.30.
Shares of NYSE:PVTL traded up $0.02 during midday trading on Thursday, reaching $15.01. The company had a trading volume of 362,797 shares, compared to its average volume of 1,271,031. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.42 and a current ratio of 2.42. Pivotal Software has a 1-year low of $8.03 and a 1-year high of $24.39. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -23.83 and a beta of -0.46. The company has a fifty day simple moving average of $14.94 and a two-hundred day simple moving average of $14.34.
Pivotal Software (NYSE:PVTL) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. Pivotal Software had a negative return on equity of 9.92% and a negative net margin of 18.66%. The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $186.50 million. During the same quarter last year, the company posted ($0.06) EPS. Pivotal Software’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts expect that Pivotal Software will post -0.45 EPS for the current year.
In other news, President William Cook sold 12,392 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $14.87, for a total transaction of $184,269.04. Also, SVP Scott Yara sold 6,196 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $14.87, for a total value of $92,134.52. Over the last three months, insiders sold 45,491 shares of company stock valued at $676,245. Company insiders own 64.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pivotal Software by 34.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,301 shares of the company’s stock worth $64,000 after purchasing an additional 1,101 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Pivotal Software during the 3rd quarter worth about $34,000. AdvisorNet Financial Inc purchased a new stake in shares of Pivotal Software during the 2nd quarter worth about $32,000. Neuburgh Advisers LLC raised its stake in shares of Pivotal Software by 131.1% during the 2nd quarter. Neuburgh Advisers LLC now owns 5,472 shares of the company’s stock worth $58,000 after purchasing an additional 3,104 shares in the last quarter. Finally, Beirne Wealth Consulting Services LLC raised its stake in shares of Pivotal Software by 16.4% during the 2nd quarter. Beirne Wealth Consulting Services LLC now owns 22,785 shares of the company’s stock worth $241,000 after purchasing an additional 3,207 shares in the last quarter. 24.37% of the stock is owned by institutional investors.
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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