Zacks Investment Research upgraded shares of Pivotal Software (NYSE:PVTL) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. The brokerage currently has $17.00 price target 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. “

Other equities research analysts also recently issued reports about the stock. Wedbush reissued a neutral rating and issued a $15.00 price target on shares of Pivotal Software in a report on Thursday, August 15th. KeyCorp cut their price target on shares of Pivotal Software from $27.00 to $21.00 and set an overweight rating for the company in a report on Wednesday, June 5th. Morgan Stanley cut their price target on shares of Pivotal Software from $26.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, June 5th. Bank of America downgraded shares of Pivotal Software from a neutral rating to an underperform rating and cut their price target for the company from $16.00 to $12.00 in a report on Tuesday, June 25th. Finally, Credit Suisse Group downgraded shares of Pivotal Software from an outperform rating to a neutral rating and cut their price target for the company from $20.00 to $15.00 in a report on Monday, August 26th. One 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. The company has an average rating of Hold and an average target price of $17.30.

Shares of NYSE PVTL opened at $14.88 on Friday. Pivotal Software has a twelve month low of $8.03 and a twelve month high of $24.39. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -23.62 and a beta of -0.46. The firm has a 50-day moving average of $12.62 and a two-hundred day moving average of $16.02.

Pivotal Software (NYSE:PVTL) last issued 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 net margin of 18.66% and a negative return on equity of 9.92%. The company had revenue of $193.00 million during the quarter, compared to the consensus estimate of $186.50 million. During the same period in the prior year, the company earned ($0.06) EPS. Pivotal Software’s revenue was up 17.4% on a year-over-year basis. As a group, research analysts predict that Pivotal Software will post -0.45 earnings per share for the current year.

In other Pivotal Software news, SVP Onsi Fakhouri sold 6,250 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $11.35, for a total transaction of $70,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert C. Mee sold 21,135 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $11.30, for a total transaction of $238,825.50. The disclosure for this sale can be found here. Insiders have sold 50,658 shares of company stock valued at $572,236 over the last ninety days. Insiders own 64.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc acquired a new stake in shares of Pivotal Software in the second quarter valued at about $32,000. BNP Paribas Arbitrage SA increased its stake in shares of Pivotal Software by 195.7% in the first quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $33,000 after buying an additional 1,049 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Pivotal Software in the second quarter valued at about $34,000. Resources Investment Advisors LLC. acquired a new stake in shares of Pivotal Software in the second quarter valued at about $45,000. Finally, Neuburgh Advisers LLC increased its stake in shares of Pivotal Software by 131.1% in the second quarter. Neuburgh Advisers LLC now owns 5,472 shares of the company’s stock valued at $58,000 after buying an additional 3,104 shares during the period. 24.90% 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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