Pivotal Software (PVTL) Given New $32.00 Price Target at Morgan Stanley

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Pivotal Software (NASDAQ:PVTL) had its target price lifted by Morgan Stanley from $26.00 to $32.00 in a research note issued on Thursday. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 16.62% from the stock’s previous close.

PVTL has been the topic of several other research reports. Zacks Investment Research lowered shares of Pivotal Software from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Goldman Sachs Group initiated coverage on shares of Pivotal Software in a research note on Tuesday, May 15th. They issued a “buy” rating and a $21.00 target price on the stock. Barclays initiated coverage on shares of Pivotal Software in a research note on Tuesday, May 15th. They issued an “equal weight” rating and a $19.00 target price on the stock. KeyCorp initiated coverage on shares of Pivotal Software in a research note on Tuesday, May 15th. They issued an “overweight” rating and a $24.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Pivotal Software in a research note on Tuesday, May 15th. They issued a “neutral” rating and a $21.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Pivotal Software presently has a consensus rating of “Hold” and a consensus target price of $23.09.

NASDAQ:PVTL opened at $27.44 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 posted its quarterly earnings data on Tuesday, June 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $155.70 million for the quarter, compared to the consensus estimate of $140.41 million. Pivotal Software’s quarterly revenue was up 28.5% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PVTL. TRUE Private Wealth Advisors acquired a new stake in shares of Pivotal Software in the second quarter valued at about $959,000. DSAM Partners London Ltd acquired a new stake in shares of Pivotal Software in the second quarter valued at about $2,798,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Pivotal Software in the second quarter valued at about $273,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Pivotal Software in the second quarter valued at about $82,195,000. Finally, Emerald Advisers Inc. PA acquired a new stake in shares of Pivotal Software in the second quarter valued at about $442,000.

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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