Pivotal Software (NASDAQ:PVTL) Releases FY20 Earnings Guidance

Pivotal Software (NASDAQ:PVTL) updated its FY20 earnings guidance on Tuesday. The company provided earnings per share guidance of $(0.15)-(0.13) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.14). The company issued revenue guidance of $756-767 million, compared to the consensus revenue estimate of $802.53 million.Pivotal Software also updated its FY 2020 guidance to $-0.15–0.13 EPS.

Several research firms have recently issued reports on PVTL. Zacks Investment Research cut Pivotal Software from a hold rating to a sell rating in a report on Friday, June 7th. Wedbush cut Pivotal Software from an outperform rating to a neutral rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, June 5th. Needham & Company LLC cut their target price on Pivotal Software from $28.00 to $21.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Barclays cut their target price on Pivotal Software from $21.00 to $15.00 and set an equal weight rating on the stock in a research report on Wednesday, June 5th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $20.00 target price (down from $25.00) on shares of Pivotal Software in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Pivotal Software currently has a consensus rating of Hold and a consensus price target of $19.90.

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

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

In related news, SVP Andrew M. Cohen sold 12,900 shares of Pivotal Software stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $20.82, for a total value of $268,578.00. The transaction 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 Pivotal Software stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $21.11, for a total value of $633,300.00. The disclosure for this sale can be found here. Over the last ninety days, 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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