Pivotal Software (NASDAQ:PVTL) Issues Q2 2020 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) issued an update on its second quarter 2020 earnings guidance on Tuesday morning. The company provided EPS guidance of $-0.04–0.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.03. The company issued revenue guidance of $185-189 million, compared to the consensus revenue estimate of $197.75 million.Pivotal Software also updated its FY 2020 guidance to $-0.15–0.13 EPS.

Shares of NASDAQ:PVTL traded up $0.14 during trading on Friday, reaching $10.56. 1,574,908 shares of the company were exchanged, compared to its average volume of 2,193,912. The business’s fifty day simple moving average is $15.97. Pivotal Software has a 12-month low of $10.10 and a 12-month high of $29.15.

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

A number of equities analysts have recently commented on PVTL shares. Goldman Sachs Group lowered shares of Pivotal Software from a buy rating to a neutral rating and reduced their target price for the stock from $25.00 to $24.00 in a research report on Wednesday, March 6th. Bank of America reaffirmed a neutral rating and set a $25.00 target price (up from $22.00) on shares of Pivotal Software in a research report on Friday, March 15th. Wedbush raised their target price on shares of Pivotal Software from $25.00 to $26.00 and gave the stock an outperform rating in a research report on Friday, March 15th. Barclays dropped their price objective on shares of Pivotal Software from $23.00 to $21.00 and set an equal weight rating on the stock 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 on the stock in a research note on Saturday, March 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Pivotal Software currently has an average rating of Hold and an average target price of $19.90.

In other Pivotal Software news, SVP Andrew M. Cohen sold 12,900 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $20.82, for a total value of $268,578.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William Cook sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were 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. Over the last quarter, insiders have sold 136,458 shares of company stock worth $2,374,654.

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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