Pivotal Software (NASDAQ:PVTL) had its target price lowered by Barclays to $22.00 in a research report released on Thursday, September 13th, The Fly reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also commented on PVTL. Citigroup increased their price objective on Pivotal Software from $22.00 to $28.00 and gave the company a neutral rating in a report on Friday, September 7th. Zacks Investment Research raised Pivotal Software from a hold rating to a buy rating and set a $30.00 target price on the stock in a report on Wednesday, July 25th. Morgan Stanley raised their target price on Pivotal Software from $26.00 to $32.00 and gave the company an overweight rating in a report on Thursday, August 30th. Finally, Credit Suisse Group lifted their price objective on Pivotal Software from $22.00 to $25.00 and gave the stock an outperform rating in a report on Wednesday, June 13th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $23.18.

Pivotal Software stock traded up $0.11 during mid-day trading on Thursday, hitting $19.50. The company’s stock had a trading volume of 928,930 shares, compared to its average volume of 1,760,190. Pivotal Software has a 52-week low of $15.11 and a 52-week high of $31.24.

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

Several hedge funds have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Pivotal Software during the second quarter worth $82,195,000. FMR LLC bought a new stake in shares of Pivotal Software during the second quarter worth $45,355,000. BlackRock Inc. bought a new stake in shares of Pivotal Software during the second quarter worth $40,940,000. Wells Fargo & Company MN acquired a new stake in shares of Pivotal Software during the second quarter worth $37,309,000. Finally, Partner Fund Management L.P. acquired a new stake in shares of Pivotal Software during the second quarter worth $23,766,000.

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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