Ford Motor Company has invested $182.2 million in Pivotal - a cloud-based software company. The move further sets objectives of the company to be not just an automaker, but a mobility firm that banks larger data as well.
Mark Fields, Ford president and CEO said, “Our investment in Pivotal will help strengthen our ability to deliver these customer experiences at the speed of Silicon Valley,"
"Including continually expanding FordPass – our digital, physical and personal mobility experience platform,” he added.
As the automaker invest in Pivotal, their product linkage and remote access will expand. Additionally, Ford aims to help car owners such as locating parking slots, including car sharing opportunities.
With the connection of Pivotal with Ford, engineers of the firm can increase development’s acceleration, along with application of features and customer experiences.
The cloud computing of Pivotal can be used by Ford in order to acquire the mobility arm of its business model and the cloud.
Ford Motor Co. Shares
Ford Motor Co. shares traded down by about -2.56 per cent last week, citing 21 analysts who recommended a hold rating on the stock. 9 analysts of which gave a buy rating, 10 affirmed a sell rating and two issued a hold rating.
Meanwhile, among those 15 analysts who issued ratings on the stock, set an average price objective of $16. Individual targets settled between $12 and $20. The stock traded at $13.31 after the market closed, suggesting that analysts have seen shares rallying to 20.21 per cent in 12 within a year.
Analysts remained positive about the potential of the company which is likely to unload shares, while it is currently down by -1.27 this year. Shares were sold by Ford’s president and CEO in a transaction made on April 4, 2016.
Fields Mark lowered 757,730 shares and gave an average price objective of $12.82, hitting $9,717,228 in proceeds. Shares retained settled at 1,574,789 as transaction discloses. Ford William Clay Jr, Exec. Chairman and Chairman of the company acquired $14,825,199 on Monday, fueled from 1,090,000 sale of shares at $12.82 each.
Investors consider an F stock with a current market price of $13.31 per share, and the stock is expected to release quarterly results for the June 2016 quarter. For the current quarter, analysts are expecting the company to post an earnings per share (EPS) of $0.6, suggesting a 27.66% increase in revenue in a year-over-year basis for the same period and is anticipated to hit $36.42B.
Ford Motor Co. gained $35.26B revenue and a net income of $0.68 per share during the last fiscal quarter, compared to the consensus estimate of $35.69B and $0.48 per share, respectively. Meanwhile, the revenue of the company posted $37.84B, with earnings settled at $0.58 per share for the three months since December in the prior year.
Bank of America and Merrill covers Ford Motor Co, and issued a noteworthy rating. It has lowered their rating from “Buy” into a “Neutral” issued on April 29, 2016. Credit Suisse downgraded rating from Neutral to Underperform on February 24, 2016.
Although a decline of -0.89% was seen in value, the stock’s new closing price signifies a slump of -11.29% value from the company’s one year high of $15.84. Its 50-day moving average settled at $13.29, while its 200-day moving average hit $13.4.