Equities research analysts forecast that Pivotal Software (NASDAQ:PVTL) will announce sales of $184.20 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pivotal Software’s earnings. The highest sales estimate is $184.40 million and the lowest is $184.00 million. Pivotal Software reported sales of $155.74 million in the same quarter last year, which suggests a positive year over year growth rate of 18.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, June 4th.
On average, analysts expect that Pivotal Software will report full year sales of $802.70 million for the current fiscal year, with estimates ranging from $802.51 million to $803.00 million. For the next financial year, analysts anticipate that the company will report sales of $981.54 million, with estimates ranging from $972.20 million to $992.75 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Pivotal Software.
Pivotal Software (NASDAQ:PVTL) last posted its earnings results on Thursday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). The business had revenue of $169.20 million for the quarter, compared to analysts’ expectations of $170.21 million. The firm’s revenue was up 27.0% compared to the same quarter last year.
A number of analysts have recently weighed in on the stock. Goldman Sachs Group cut shares of Pivotal Software from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $24.00 in a research note on Wednesday, March 6th. Barclays reduced their price objective on shares of Pivotal Software from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, March 15th. Wedbush boosted their price objective on shares of Pivotal Software from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Bank of America restated a “neutral” rating and issued a $25.00 price objective (up from $22.00) on shares of Pivotal Software in a research note on Friday, March 15th. Finally, Zacks Investment Research upgraded shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Saturday, March 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Pivotal Software has an average rating of “Buy” and a consensus price target of $25.33.
Shares of Pivotal Software stock opened at $20.28 on Thursday. Pivotal Software has a 1-year low of $14.43 and a 1-year high of $31.24.
In related news, SVP Edward Hieatt sold 24,950 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $19.84, for a total transaction of $495,008.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President William Cook sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $21.11, for a total transaction of $633,300.00. The disclosure for this sale can be found here. Insiders have sold 369,952 shares of company stock worth $7,626,017 in the last ninety days.
A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its holdings in Pivotal Software by 195.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $33,000 after buying an additional 1,049 shares during the period. FNY Investment Advisers LLC bought a new stake in Pivotal Software in the 1st quarter valued at $30,000. Quantamental Technologies LLC bought a new stake in Pivotal Software in the 4th quarter valued at $25,000. Advisor Group Inc. increased its holdings in Pivotal Software by 267.9% in the 4th quarter. Advisor Group Inc. now owns 2,704 shares of the company’s stock valued at $44,000 after buying an additional 1,969 shares during the period. Finally, Neuburgh Advisers LLC bought a new stake in Pivotal Software in the 1st quarter valued at $49,000.
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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