Pivotal Software (PVTL) Issues Quarterly Earnings Results

Pivotal Software (NASDAQ:PVTL) released its quarterly earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02, Briefing.com reports. The business had revenue of $185.72 million during the quarter, compared to the consensus estimate of $184.12 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis.

Shares of PVTL stock traded down $0.03 on Thursday, reaching $10.86. 9,536,633 shares of the stock were exchanged, compared to its average volume of 2,004,752. Pivotal Software has a one year low of $10.10 and a one year high of $31.24.

In related news, SVP Andrew M. Cohen sold 12,900 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $21.60, for a total value of $278,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert C. Mee sold 75,716 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $19.85, for a total value of $1,502,962.60. The disclosure for this sale can be found here. Insiders sold 274,794 shares of company stock valued at $5,573,094 in the last quarter.

Several analysts recently weighed in on PVTL shares. Goldman Sachs Group cut shares of Pivotal Software from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $24.00 in a report on Wednesday, March 6th. Morgan Stanley increased their target price on Pivotal Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Barclays reduced their target price on Pivotal Software from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, March 15th. Bank of America reiterated a “neutral” rating and set a $25.00 target price (up from $22.00) on shares of Pivotal Software in a research note on Friday, March 15th. Finally, Wedbush increased their target price on Pivotal Software from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $20.70.

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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 for Pivotal Software (NASDAQ:PVTL)

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