Pivotal Software (PVTL) Updates Q4 Earnings Guidance

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Pivotal Software (NASDAQ:PVTL) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.10-0.09) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.10). The company issued revenue guidance of $169-171 million, compared to the consensus revenue estimate of $167.29 million.Pivotal Software also updated its FY 2019 guidance to $-0.32–0.31 EPS.

Several research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Pivotal Software to $22.00 and set an equal weight rating on the stock in a research report on Thursday, September 13th. Morgan Stanley reissued a buy rating and issued a $29.00 target price on shares of Pivotal Software in a research report on Thursday, September 13th. Citigroup raised their price target on shares of Pivotal Software from $22.00 to $28.00 and gave the stock a neutral rating in a report on Friday, September 7th. Zacks Investment Research upgraded shares of Pivotal Software from a hold rating to a buy rating and set a $25.00 price target for the company in a report on Tuesday, September 18th. Finally, Needham & Company LLC initiated coverage on shares of Pivotal Software in a report on Monday, October 22nd. They set a buy rating and a $25.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $23.46.

Shares of PVTL stock traded down $0.23 during trading on Tuesday, hitting $17.80. 2,987,328 shares of the company were exchanged, compared to its average volume of 1,724,618. Pivotal Software has a twelve month low of $15.11 and a twelve month high of $31.24.

Pivotal Software (NASDAQ:PVTL) last posted its quarterly earnings results on Wednesday, September 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $164.40 million for the quarter, compared to analyst estimates of $158.12 million. The business’s quarterly revenue was up 30.5% compared to the same quarter last year.

In other Pivotal Software news, SVP Edward Hieatt sold 44,792 shares of Pivotal Software stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $20.00, for a total value of $895,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William Cook sold 2,297 shares of Pivotal Software stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $20.00, for a total transaction of $45,940.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,592 shares of company stock valued at $2,012,356.

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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.

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Earnings History and Estimates for Pivotal Software (NASDAQ:PVTL)

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