Pivotal Software (PVTL) Issues Quarterly Earnings Results
Pivotal Software (NASDAQ:PVTL) posted its earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.05), Morningstar.com reports. The business had revenue of $169.20 million for the quarter, compared to analysts’ expectations of $170.21 million. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year.
Pivotal Software stock opened at $20.75 on Friday. Pivotal Software has a 12-month low of $14.43 and a 12-month high of $31.24.
In related news, SVP Edward Hieatt sold 44,791 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $20.01, for a total value of $896,267.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Scott Yara sold 36,667 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $22.47, for a total transaction of $823,907.49. The disclosure for this sale can be found here. Insiders sold 169,949 shares of company stock worth $3,549,191 over the last three months.
PVTL has been the topic of several analyst reports. Zacks Investment Research raised shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Saturday, December 15th. Needham & Company LLC raised their price target 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. Goldman Sachs Group cut shares of Pivotal Software from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $24.00 in a research note on Wednesday, March 6th. 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $23.46.
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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