Pivotal Software (PVTL) Issues FY 2020 Earnings Guidance

Share on StockTwits

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 recently commented on the company. Goldman Sachs Group downgraded Pivotal Software from a buy rating to a neutral rating and lowered their target price for the company from $25.00 to $24.00 in a research report on Wednesday, March 6th. Zacks Investment Research downgraded Pivotal Software from a buy rating to a hold rating in a research report on Wednesday, November 14th. Needham & Company LLC increased their target price on Pivotal Software from $25.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, December 12th. 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $23.46.

PVTL traded up $0.07 during trading on Thursday, reaching $22.40. The company had a trading volume of 3,113,900 shares, compared to its average volume of 1,910,127. Pivotal Software has a 52 week low of $14.43 and a 52 week 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 for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $168.10 million during 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 Pivotal Software news, SVP Edward Hieatt sold 44,791 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $20.01, for a total value of $896,267.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Scott Yara sold 36,667 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $22.47, for a total value of $823,907.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,949 shares of company stock worth $3,549,191.

ILLEGAL ACTIVITY WARNING: This piece was reported by Macon Daily and is owned by of Macon Daily. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://macondaily.com/2019/03/14/pivotal-software-pvtl-issues-fy-2020-earnings-guidance.html.

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.

Recommended Story: Why do companies issue convertible shares?

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

Receive News & Ratings for Pivotal Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pivotal Software and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply