A number of firms have modified their ratings and price targets on shares of Pivotal Software (NASDAQ: PVTL) recently:

  • 6/7/2019 – Pivotal Software was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 6/5/2019 – Pivotal Software had its price target lowered by analysts at Morgan Stanley from $26.00 to $18.00. They now have an “overweight” rating on the stock.
  • 6/5/2019 – Pivotal Software had its price target lowered by analysts at KeyCorp from $27.00 to $21.00. They now have an “overweight” rating on the stock.
  • 6/5/2019 – Pivotal Software had its “outperform” rating reaffirmed by analysts at William Blair.
  • 6/5/2019 – Pivotal Software had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $20.00 price target on the stock, down previously from $25.00.
  • 6/5/2019 – Pivotal Software had its “neutral” rating reaffirmed by analysts at Bank of America Corp. They now have a $20.00 price target on the stock, down previously from $25.00.
  • 6/5/2019 – Pivotal Software was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $15.00 price target on the stock, down previously from $26.00.
  • 6/5/2019 – Pivotal Software had its price target lowered by analysts at Barclays PLC from $21.00 to $15.00. They now have an “equal weight” rating on the stock.
  • 6/5/2019 – Pivotal Software had its price target lowered by analysts at Needham & Company LLC from $28.00 to $21.00. They now have a “buy” rating on the stock.
  • 5/16/2019 – Pivotal Software was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “

NASDAQ:PVTL traded up $0.25 during mid-day trading on Wednesday, reaching $10.99. 995,704 shares of the company were exchanged, compared to its average volume of 2,095,454. Pivotal Software has a 12 month low of $10.10 and a 12 month high of $31.24.

Pivotal Software (NASDAQ:PVTL) last issued its quarterly earnings data on Tuesday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $185.72 million for the quarter, compared to the consensus estimate of $184.12 million. During the same period in the prior year, the company earned ($0.10) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year.

In other news, President William Cook sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $21.11, for a total value of $633,300.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew M. Cohen sold 12,900 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $20.82, for a total transaction of $268,578.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,794 shares of company stock worth $5,573,094.

Several hedge funds and other institutional investors have recently modified their holdings of PVTL. Bank of New York Mellon Corp boosted its stake in shares of Pivotal Software by 30.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 36,154 shares of the company’s stock valued at $708,000 after purchasing an additional 8,417 shares during the last quarter. Morgan Stanley boosted its stake in shares of Pivotal Software by 99.1% in the 3rd quarter. Morgan Stanley now owns 237,411 shares of the company’s stock valued at $4,648,000 after purchasing an additional 118,168 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Pivotal Software in the 4th quarter valued at about $25,000. Segantii Capital Management Ltd bought a new position in shares of Pivotal Software in the 4th quarter valued at about $4,905,000. Finally, EastBay Asset Management LLC bought a new position in shares of Pivotal Software in the 4th quarter valued at about $5,286,000.

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: Book Value Per Share – BVPS

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