Pivotal Software (PVTL) Receives $23.46 Consensus Price Target from Brokerages

Pivotal Software (NASDAQ:PVTL) has received an average recommendation of “Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $23.46.

A number of research analysts have weighed in on the stock. Barclays reduced their price target on shares of Pivotal Software to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 13th. Morgan Stanley reaffirmed a “buy” rating and set a $29.00 price target on shares of Pivotal Software in a research report on Thursday, September 13th. Citigroup lifted their price target on shares of Pivotal Software from $22.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, July 18th.

Shares of PVTL stock opened at $17.82 on Tuesday. Pivotal Software has a fifty-two week low of $15.11 and a fifty-two week high of $31.24.

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

In other news, SVP Edward Hieatt sold 44,792 shares of Pivotal Software stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $20.00, for a total transaction of $895,840.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President William Cook sold 27,703 shares of Pivotal Software stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $20.00, for a total transaction of $554,060.00. The disclosure for this sale can be found here. Insiders have sold 100,592 shares of company stock worth $2,012,356 in the last quarter.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its stake in shares of Pivotal Software by 10.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 33,005 shares of the company’s stock valued at $646,000 after purchasing an additional 3,088 shares during the period. TRUE Private Wealth Advisors raised its stake in shares of Pivotal Software by 11.0% during the third quarter. TRUE Private Wealth Advisors now owns 43,885 shares of the company’s stock valued at $859,000 after purchasing an additional 4,335 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Pivotal Software during the second quarter valued at approximately $232,000. Jane Street Group LLC purchased a new stake in shares of Pivotal Software during the second quarter valued at approximately $252,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Pivotal Software during the second quarter valued at approximately $260,000.

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.

Further Reading: Bear Market

Analyst Recommendations for Pivotal Software (NASDAQ:PVTL)

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