Pivotal Software (PVTL) Issues Q1 2020 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) updated its first quarter 2020 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 $-0.06. The company issued revenue guidance of $183-185 million, compared to the consensus revenue estimate of $191.09 million.Pivotal Software also updated its FY 2020 guidance to $-0.15–0.13 EPS.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised shares of Pivotal Software from a sector perform rating to an outperform rating in a report on Thursday, December 20th. Needham & Company LLC lifted their price objective on shares of Pivotal Software from $25.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, December 12th. Zacks Investment Research lowered shares of Pivotal Software from a buy rating to a hold rating in a research note on Tuesday, December 18th. Finally, Goldman Sachs Group lowered shares of Pivotal Software from a buy rating to a neutral rating and dropped their price objective for the stock from $25.00 to $24.00 in a research note on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $23.46.

NASDAQ PVTL traded up $0.07 on Thursday, hitting $22.40. 3,082,710 shares of the stock were exchanged, compared to its average volume of 1,909,502. Pivotal Software has a 52-week low of $14.43 and a 52-week high of $31.24.

Pivotal Software (NASDAQ:PVTL) last posted its quarterly earnings data on Tuesday, December 11th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. The firm had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $164.11 million. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year.

In other news, SVP Edward Hieatt sold 44,791 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $20.01, for a total transaction of $896,267.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President William Cook sold 30,000 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. 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 ninety days.

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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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