Pivotal Software (PVTL) Now Covered by Wedbush

Wedbush began coverage on shares of Pivotal Software (NASDAQ:PVTL) in a research note issued on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Wedbush’s target price indicates a potential upside of 37.74% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays lifted their price target on Pivotal Software from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 15th. Zacks Investment Research cut Pivotal Software from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Morgan Stanley reissued a “buy” rating and set a $29.00 target price on shares of Pivotal Software in a research note on Thursday, September 13th. Finally, Citigroup boosted their target price on Pivotal Software from $22.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, September 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.33.

Shares of Pivotal Software stock opened at $18.15 on Thursday. Pivotal Software has a one year low of $15.11 and a one year high of $31.24.

Pivotal Software (NASDAQ:PVTL) last announced its quarterly earnings results on Wednesday, September 12th. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. The company had revenue of $164.40 million during the quarter, compared to analysts’ expectations of $158.12 million. The firm’s quarterly revenue was up 30.5% on a year-over-year basis.

Several institutional investors and hedge funds have recently bought and sold shares of the company. TRUE Private Wealth Advisors increased 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 buying an additional 4,335 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Pivotal Software during the second quarter valued at approximately $232,000. Jane Street Group LLC purchased a new position in shares of Pivotal Software during the second quarter valued at approximately $252,000. CIBC World Markets Inc. purchased a new position in shares of Pivotal Software during the second quarter valued at approximately $260,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Pivotal Software in the second quarter worth $273,000.

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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Analyst Recommendations for Pivotal Software (NASDAQ:PVTL)

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