Pivotal Software (PVTL) Issues FY 2020 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) updated its FY 2020 earnings guidance on Thursday. The company provided EPS guidance of $-0.15–0.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.16. The company issued revenue guidance of $798-806 million, compared to the consensus revenue estimate of $813.83 million.Pivotal Software also updated its Q1 2020 guidance to $-0.06–0.05 EPS.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Pivotal Software from a buy rating to a hold rating in a research report on Wednesday, November 14th. Needham & Company LLC boosted their target price on shares of Pivotal Software from $25.00 to $28.00 and gave the company a buy rating in a report on Wednesday, December 12th. Royal Bank of Canada upgraded shares of Pivotal Software from a sector perform rating to an outperform rating in a report on Thursday, December 20th. Finally, Goldman Sachs Group cut shares of Pivotal Software from a buy rating to a neutral rating and dropped their target price for the company from $25.00 to $24.00 in a report on Wednesday, March 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $23.46.

Shares of PVTL stock traded up $0.07 during mid-day trading on Thursday, reaching $22.40. 3,113,900 shares of the company’s stock traded hands, compared to its average volume of 1,910,127. Pivotal Software has a 12 month low of $14.43 and a 12 month high of $31.24.

Pivotal Software (NASDAQ:PVTL) last announced its quarterly earnings results on Tuesday, December 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The firm had revenue of $168.10 million during the quarter, compared to the consensus estimate of $164.11 million. The company’s revenue for the quarter was up 30.3% on a year-over-year basis.

In other Pivotal Software news, SVP Onsi Fakhouri sold 13,700 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $22.49, for a total transaction of $308,113.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President William Cook sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 169,949 shares of company stock worth $3,549,191 in the last 90 days.

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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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Earnings History and Estimates for Pivotal Software (NASDAQ:PVTL)

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