Pivotal Software (PVTL) Issues Q1 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) updated its first quarter 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 ($0.05). 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.

A number of brokerages recently issued reports on PVTL. Goldman Sachs Group downgraded 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 research report on Wednesday, March 6th. Royal Bank of Canada upgraded Pivotal Software from a sector perform rating to an outperform rating in a research report on Thursday, December 20th. Zacks Investment Research downgraded Pivotal Software from a buy rating to a hold rating in a research report on Tuesday, December 18th. Finally, Needham & Company LLC increased their price objective on Pivotal Software from $25.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, December 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $23.46.

PVTL traded up $0.07 during trading on Thursday, reaching $22.40. The stock had a trading volume of 3,083,718 shares, 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 released its earnings results on Tuesday, December 11th. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. The firm had revenue of $168.10 million during the quarter, compared to the consensus estimate of $164.11 million. Pivotal Software’s revenue was up 30.3% compared to the same quarter last year.

In related news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Onsi Fakhouri sold 13,700 shares of the stock in a transaction 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. In the last three months, 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.

Further Reading: Systematic Risk and Investors

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

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