Pivotal Software (PVTL) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS
Pivotal Software (NASDAQ:PVTL) released its earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05), Morningstar.com reports. The company had revenue of $169.20 million during the quarter, compared to analysts’ expectations of $170.21 million. Pivotal Software’s revenue was up 27.0% on a year-over-year basis.
Shares of NASDAQ:PVTL traded down $0.33 during trading on Friday, hitting $22.07. The company had a trading volume of 1,413,793 shares, compared to its average volume of 1,910,127. Pivotal Software has a one year low of $14.43 and a one year high of $31.24.
Several research firms have weighed in on PVTL. Bank of America raised their price target on Pivotal Software from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada upgraded Pivotal Software from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 20th. Needham & Company LLC raised their price target on Pivotal Software from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 12th. Zacks Investment Research cut Pivotal Software from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Goldman Sachs Group cut Pivotal Software from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $24.00 in a report on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.77.
Several large investors have recently bought and sold shares of PVTL. Quantamental Technologies LLC bought a new stake in shares of Pivotal Software in the 4th quarter valued at approximately $25,000. Advisor Group Inc. lifted its stake in shares of Pivotal Software by 267.9% in the 4th quarter. Advisor Group Inc. now owns 2,704 shares of the company’s stock valued at $44,000 after purchasing an additional 1,969 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Pivotal Software in the 4th quarter valued at approximately $179,000. Paloma Partners Management Co bought a new stake in shares of Pivotal Software in the 3rd quarter valued at approximately $200,000. Finally, Signition LP bought a new stake in shares of Pivotal Software in the 4th quarter valued at approximately $241,000.
COPYRIGHT VIOLATION NOTICE: “Pivotal Software (PVTL) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2019/03/15/pivotal-software-pvtl-posts-quarterly-earnings-results-misses-expectations-by-0-05-eps.html.
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.
Further Reading: Market Capitalization and Individual Investors
Receive News & Ratings for Pivotal Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pivotal Software and related companies with MarketBeat.com's FREE daily email newsletter.