Pivotal Software (NASDAQ:PVTL) Releases Earnings Results, Beats Estimates By $0.02 EPS

Pivotal Software (NASDAQ:PVTL) issued its earnings results on Tuesday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02, Briefing.com reports. The business had revenue of $185.72 million during the quarter, compared to the consensus estimate of $184.12 million. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS.

Shares of NASDAQ:PVTL traded up $0.14 during midday trading on Friday, hitting $10.56. The stock had a trading volume of 1,574,908 shares, compared to its average volume of 2,193,912. Pivotal Software has a 12 month low of $10.10 and a 12 month high of $29.15. The business has a 50-day moving average of $15.97.

In other Pivotal Software news, SVP Andrew M. Cohen sold 4,240 shares of Pivotal Software stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $11.27, for a total transaction of $47,784.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew M. Cohen sold 12,900 shares of Pivotal Software stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $21.60, for a total transaction of $278,640.00. The disclosure for this sale can be found here. Insiders sold 136,458 shares of company stock valued at $2,374,654 over the last three months.

PVTL has been the topic of several research analyst reports. Barclays dropped their target price on shares of Pivotal Software from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, March 15th. Zacks Investment Research downgraded shares of Pivotal Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Morgan Stanley lifted their price objective on shares of Pivotal Software from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Bank of America downgraded shares of Pivotal Software from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $16.00 to $12.00 in a report on Tuesday. Finally, Wedbush lifted their price objective on shares of Pivotal Software from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.90.

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.

See Also: Cost of equity and a company’s balance sheet

Earnings History for Pivotal Software (NASDAQ:PVTL)

Receive News & Ratings for Pivotal Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pivotal Software and related companies with MarketBeat.com's FREE daily email newsletter.