Pivotal Software (PVTL) Updates FY19 Earnings Guidance
Pivotal Software (NASDAQ:PVTL) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.36)-($0.34) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.38). The company issued revenue guidance of $647-$653 million, compared to the consensus revenue estimate of $646.52 million.Pivotal Software also updated its Q3 guidance to ($0.09)-($0.08) EPS.
A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed a buy rating and set a $29.00 price objective on shares of Pivotal Software in a research report on Thursday. Barclays reduced their target price on shares of Pivotal Software to $22.00 and set an equal weight rating for the company in a research report on Thursday. Citigroup boosted their target price on shares of Pivotal Software from $22.00 to $28.00 and gave the company a neutral rating in a research report on Friday, September 7th. Credit Suisse Group boosted their target price on shares of Pivotal Software from $22.00 to $25.00 and gave the company an outperform rating in a research report on Wednesday, June 13th. Finally, Zacks Investment Research raised shares of Pivotal Software from a hold rating to a buy rating and set a $29.00 target price for the company in a research report on Wednesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $23.27.
Shares of Pivotal Software stock opened at $23.00 on Friday. Pivotal Software has a 52-week low of $15.11 and a 52-week high of $31.24.
An institutional investor recently bought a new position in Pivotal Software stock. Bank of New York Mellon Corp bought a new stake in Pivotal Software (NASDAQ:PVTL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,737 shares of the company’s stock, valued at approximately $673,000.
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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