Pivotal Software (PVTL) Updates FY20 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) issued an update on its FY20 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($0.15)-($0.13) for the period, compared to the Thomson Reuters consensus estimate of ($0.14). The company issued revenue guidance of $798-$806 million, compared to the consensus revenue estimate of $814.42 million.Pivotal Software also updated its FY 2020 guidance to $-0.15–0.13 EPS.

PVTL traded up $0.07 during midday trading on Thursday, reaching $22.40. 3,083,718 shares of the company were exchanged, compared to its average volume of 1,910,127. Pivotal Software has a one year low of $14.43 and a one year high of $31.24.

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

A number of analysts have commented on PVTL shares. Goldman Sachs Group lowered Pivotal Software from a buy rating to a neutral rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Wednesday, March 6th. Royal Bank of Canada raised Pivotal Software from a sector perform rating to an outperform rating in a report on Thursday, December 20th. Needham & Company LLC boosted their price objective on Pivotal Software from $25.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, December 12th. Finally, Zacks Investment Research raised Pivotal Software from a hold rating to a buy rating and set a $19.00 price objective for the company in a report on Saturday, December 15th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $23.46.

In other news, SVP Edward Hieatt sold 44,791 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through this link. Also, SVP Onsi Fakhouri sold 13,700 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $22.49, for a total value of $308,113.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,949 shares of company stock valued at $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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