Pivotal Software (NASDAQ:PVTL) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.06)-($0.05) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.05). The company issued revenue guidance of $183-$185 million, compared to the consensus revenue estimate of $189.94 million.Pivotal Software also updated its FY 2020 guidance to $-0.15–0.13 EPS.

Shares of NASDAQ PVTL traded up $0.07 during midday trading on Thursday, reaching $22.40. The stock had a trading volume of 3,083,718 shares, compared to its average volume of 1,910,127. Pivotal Software has a 12-month low of $14.43 and a 12-month high of $31.24.

Pivotal Software (NASDAQ:PVTL) last announced its quarterly earnings data on Tuesday, December 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The firm had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $164.11 million. Pivotal Software’s revenue was up 30.3% compared to the same quarter last year.

A number of analysts have recently issued reports on PVTL shares. Zacks Investment Research raised shares of Pivotal Software from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Saturday, December 15th. Goldman Sachs Group cut shares of Pivotal Software from a buy rating to a neutral rating and reduced their price objective for the stock from $25.00 to $24.00 in a research note on Wednesday, March 6th. Needham & Company LLC increased their price objective on shares of Pivotal Software from $25.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, December 12th. Finally, Royal Bank of Canada raised shares of Pivotal Software from a sector perform rating to an outperform rating in a research note on Thursday, December 20th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $23.46.

In related news, President William Cook sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Onsi Fakhouri sold 13,700 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $22.49, for a total transaction of $308,113.00. The disclosure for this sale can be found here. Insiders have sold 169,949 shares of company stock valued at $3,549,191 over the last ninety days.

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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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