Pivotal Software (PVTL) Updates Q1 Earnings Guidance

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Pivotal Software (NASDAQ:PVTL) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.06)-($0.05) for the period, compared to the Thomson Reuters consensus earnings per share 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 analysts have commented on the stock. Zacks Investment Research lowered shares of Pivotal Software from a buy rating to a hold rating in a report on Wednesday, November 14th. Needham & Company LLC raised their price objective on shares of Pivotal Software from $25.00 to $28.00 and gave the stock 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 lowered shares of Pivotal Software from a buy rating to a neutral rating and lowered their price objective for the stock from $25.00 to $24.00 in a report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $23.46.

Shares of PVTL stock traded up $0.07 during trading hours on Thursday, hitting $22.40. 3,083,718 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 released its earnings results on Tuesday, December 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. The business had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $164.11 million. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year.

In other news, SVP Onsi Fakhouri sold 13,700 shares of Pivotal Software stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Edward Hieatt sold 44,791 shares of Pivotal Software stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $20.01, for a total transaction of $896,267.91. The disclosure for this sale can be found here. Insiders have sold 169,949 shares of company stock valued at $3,549,191 over the last quarter.

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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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