Pivotal Software (PVTL) Releases Q3 Earnings Guidance
Pivotal Software (NASDAQ:PVTL) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ($0.09)-($0.08) for the period, compared to the Thomson Reuters consensus estimate of ($0.09). The company issued revenue guidance of $163-$165 million, compared to the consensus revenue estimate of $162.89 million.Pivotal Software also updated its FY19 guidance to ($0.36)-($0.34) EPS.
A number of equities research analysts have commented on the stock. Morgan Stanley reissued a buy rating and set a $29.00 price objective on shares of Pivotal Software in a report on Thursday. Barclays decreased their price objective on shares of Pivotal Software to $22.00 and set an equal weight rating on the stock in a report on Thursday. Zacks Investment Research lowered shares of Pivotal Software from a buy rating to a hold rating in a report on Wednesday, August 1st. Finally, Credit Suisse Group increased their price objective on shares of Pivotal Software from $22.00 to $25.00 and gave the stock an outperform rating in a report on Wednesday, June 13th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $23.27.
Shares of NASDAQ PVTL opened at $23.00 on Friday. Pivotal Software has a 1 year low of $15.11 and a 1 year 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) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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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