Pivotal Software (PVTL) Issues Q1 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.06)-($0.05) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.05). The company issued revenue guidance of $183-$185 million, compared to the consensus revenue estimate of $189.94 million.Pivotal Software also updated its FY 2020 guidance to $-0.15–0.13 EPS.

Several research firms recently weighed in on PVTL. Goldman Sachs Group lowered Pivotal Software from a buy rating to a neutral rating and dropped their price target for the company from $25.00 to $24.00 in a research report on Wednesday, March 6th. Needham & Company LLC lifted their price target on Pivotal Software from $25.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, December 12th. Zacks Investment Research upgraded Pivotal Software from a hold rating to a buy rating and set a $19.00 price target on the stock in a research report on Saturday, December 15th. Finally, Royal Bank of Canada upgraded Pivotal Software from a sector perform rating to an outperform rating in a research report on Thursday, December 20th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $23.46.

Pivotal Software stock opened at $22.40 on Friday. Pivotal Software has a 12 month low of $14.43 and a 12 month high of $31.24.

Pivotal Software (NASDAQ:PVTL) last released its earnings results on Thursday, March 14th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company had revenue of $169.20 million during the quarter, compared to the consensus estimate of $170.21 million. Pivotal Software’s revenue for the quarter was up 27.0% compared to the same quarter last year.

In related news, SVP Edward Hieatt sold 44,791 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $20.01, for a total transaction of $896,267.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Onsi Fakhouri sold 13,700 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $22.49, for a total value of $308,113.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 169,949 shares of company stock valued at $3,549,191.

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

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