Pivotal Software’s (PVTL) Neutral Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Pivotal Software (NYSE:PVTL) in a research note issued to investors on Thursday morning, 24/7 WallStreet reports. Wedbush currently has a $15.00 price objective on the stock.

A number of other analysts also recently issued reports on the company. KeyCorp decreased their target price on Pivotal Software from $27.00 to $21.00 and set an overweight rating for the company in a research report on Wednesday, June 5th. Barclays decreased their target price on Pivotal Software from $21.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, June 5th. Credit Suisse Group reissued an outperform rating and issued a $20.00 target price (down from $25.00) on shares of Pivotal Software in a research report on Wednesday, June 5th. Bank of America downgraded Pivotal Software from a neutral rating to an underperform rating and decreased their target price for the stock from $16.00 to $12.00 in a research report on Tuesday, June 25th. Finally, William Blair reissued an outperform rating on shares of Pivotal Software in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $18.50.

NYSE:PVTL opened at $14.00 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.29 and a quick ratio of 2.29. The business has a fifty day simple moving average of $10.03 and a two-hundred day simple moving average of $16.77. Pivotal Software has a 1 year low of $8.03 and a 1 year high of $29.15. The company has a market capitalization of $3.81 billion, a P/E ratio of -22.22 and a beta of -0.02.

Pivotal Software (NYSE:PVTL) last released its earnings results on Tuesday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Pivotal Software had a negative return on equity of 10.67% and a negative net margin of 20.53%. The business had revenue of $185.72 million during the quarter, compared to the consensus estimate of $184.12 million. During the same period last year, the business posted ($0.10) earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts anticipate that Pivotal Software will post -0.15 earnings per share for the current year.

In other news, President William Cook sold 12,736 shares of Pivotal Software stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $11.25, for a total value of $143,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew M. Cohen sold 4,240 shares of Pivotal Software stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $11.27, for a total value of $47,784.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,658 shares of company stock valued at $572,236. 64.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Pivotal Software during the fourth quarter worth about $15,533,000. AdvisorNet Financial Inc bought a new stake in Pivotal Software during the second quarter worth about $32,000. Timpani Capital Management LLC bought a new stake in Pivotal Software during the first quarter worth about $1,560,000. SG Americas Securities LLC bought a new stake in Pivotal Software during the first quarter worth about $242,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Pivotal Software during the first quarter worth about $272,000. Institutional investors own 26.57% of the company’s stock.

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.

Read More: What is the strike price in options trading?

Analyst Recommendations for Pivotal Software (NYSE:PVTL)

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.