Pivotal Software (NASDAQ:PVTL) Given New $22.00 Price Target at Barclays

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

Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Pivotal Software from a buy rating to a hold rating in a research note on Friday, July 20th. Citigroup raised their price objective on shares of Pivotal Software from $22.00 to $28.00 and gave the company a neutral rating in a research note on Friday, September 7th. Morgan Stanley raised their price objective on shares of Pivotal Software from $26.00 to $32.00 and gave the company an overweight rating in a research note on Thursday, August 30th. Finally, Credit Suisse Group raised their price objective on shares of Pivotal Software from $22.00 to $25.00 and gave the company an outperform rating in a research note on Wednesday, June 13th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Pivotal Software currently has an average rating of Buy and a consensus target price of $23.18.

Shares of PVTL stock traded down $0.50 during mid-day trading on Thursday, hitting $19.00. The stock had a trading volume of 2,240,200 shares, compared to its average volume of 1,764,260. Pivotal Software has a fifty-two week low of $15.11 and a fifty-two week high of $31.24.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in shares of Pivotal Software during the second quarter worth about $232,000. Jane Street Group LLC purchased a new stake in shares of Pivotal Software during the second quarter worth about $252,000. CIBC World Markets Inc. purchased a new stake in shares of Pivotal Software during the second quarter worth about $260,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Pivotal Software during the second quarter worth about $273,000. Finally, California Public Employees Retirement System purchased a new stake in shares of Pivotal Software during the second quarter worth about $341,000.

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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