William Blair Analysts Cut Earnings Estimates for Pivotal Software (NASDAQ:PVTL)

Pivotal Software (NASDAQ:PVTL) – Analysts at William Blair decreased their Q2 2020 EPS estimates for shares of Pivotal Software in a research note issued to investors on Wednesday, June 5th, Zacks Investment Research reports. William Blair analyst B. Suri now anticipates that the company will post earnings per share of ($0.04) for the quarter, down from their prior forecast of ($0.02). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Pivotal Software’s Q3 2020 earnings at ($0.05) EPS, Q4 2020 earnings at ($0.05) EPS, FY2020 earnings at ($0.17) EPS, Q3 2021 earnings at ($0.02) EPS and FY2021 earnings at ($0.04) EPS.

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

PVTL has been the subject of a number of other research reports. Needham & Company LLC dropped their target price on shares of Pivotal Software from $28.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Zacks Investment Research raised shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Saturday, March 16th. Barclays reduced their target price on shares of Pivotal Software from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 5th. Goldman Sachs Group lowered shares of Pivotal Software from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $24.00 in a research report on Wednesday, March 6th. Finally, Bank of America reiterated a “neutral” rating and issued a $20.00 price objective (down from $25.00) on shares of Pivotal Software in a research report on Wednesday, June 5th. 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. Pivotal Software has an average rating of “Hold” and an average target price of $19.90.

NASDAQ:PVTL traded up $0.04 during trading hours on Friday, hitting $10.60. 1,825,538 shares of the company were exchanged, compared to its average volume of 2,190,975. The company’s 50 day moving average is $15.97. Pivotal Software has a 52-week low of $10.10 and a 52-week high of $29.15.

In other Pivotal Software news, SVP Andrew M. Cohen sold 12,900 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $21.60, for a total value of $278,640.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Onsi Fakhouri sold 6,250 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $11.35, for a total value of $70,937.50. The disclosure for this sale can be found here. In the last three months, insiders sold 93,558 shares of company stock valued at $1,484,176.

Several hedge funds have recently made changes to their positions in PVTL. FMR LLC lifted its position in shares of Pivotal Software by 104.1% during the 1st quarter. FMR LLC now owns 10,583,689 shares of the company’s stock worth $220,670,000 after buying an additional 5,397,569 shares during the period. Wells Fargo & Company MN grew its stake in shares of Pivotal Software by 9.1% during the first quarter. Wells Fargo & Company MN now owns 3,599,467 shares of the company’s stock worth $75,048,000 after purchasing an additional 300,306 shares during the period. SQN Investors LP lifted its holdings in Pivotal Software by 11.2% during the first quarter. SQN Investors LP now owns 3,389,954 shares of the company’s stock worth $70,681,000 after acquiring an additional 340,162 shares in the last quarter. Bank of America Corp DE lifted its holdings in Pivotal Software by 1,232.4% during the fourth quarter. Bank of America Corp DE now owns 2,827,457 shares of the company’s stock worth $46,229,000 after acquiring an additional 2,615,254 shares in the last quarter. Finally, Partner Fund Management L.P. lifted its holdings in Pivotal Software by 43.1% during the fourth quarter. Partner Fund Management L.P. now owns 1,224,809 shares of the company’s stock worth $20,026,000 after acquiring an additional 369,012 shares in the last quarter.

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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