Pivotal Software (PVTL) Issues FY 2020 Earnings Guidance

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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.

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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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