Shares of Pivotal Software (NASDAQ:PVTL) have received a consensus recommendation of “Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $23.33.

Several research analysts have weighed in on PVTL shares. Zacks Investment Research cut shares of Pivotal Software from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Citigroup increased their price target on shares of Pivotal Software from $22.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, September 7th. Morgan Stanley increased their price target on shares of Pivotal Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Barclays lowered their price target on shares of Pivotal Software to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, September 13th. Finally, Wedbush started coverage on shares of Pivotal Software in a report on Thursday. They issued an “outperform” rating and a $25.00 price target on the stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Pivotal Software during the second quarter worth approximately $82,195,000. FMR LLC bought a new position in shares of Pivotal Software during the second quarter worth approximately $45,355,000. BlackRock Inc. bought a new position in shares of Pivotal Software during the second quarter worth approximately $40,940,000. Wells Fargo & Company MN bought a new position in shares of Pivotal Software during the second quarter worth approximately $37,309,000. Finally, Partner Fund Management L.P. bought a new position in shares of Pivotal Software during the second quarter worth approximately $23,766,000.

Pivotal Software stock traded down $0.22 during trading hours on Friday, hitting $18.15. The company had a trading volume of 1,936,800 shares, compared to its average volume of 1,818,566. Pivotal Software has a one year low of $15.11 and a one year high of $31.24.

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

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.

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Analyst Recommendations for Pivotal Software (NASDAQ:PVTL)

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