Wall Street analysts expect that Pivotal Software (NASDAQ:PVTL) will post sales of $170.10 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pivotal Software’s earnings, with estimates ranging from $170.00 million to $170.30 million. The business is expected to report its next earnings results after the market closes on Thursday, March 14th.
On average, analysts expect that Pivotal Software will report full-year sales of $658.46 million for the current year, with estimates ranging from $658.30 million to $658.74 million. For the next financial year, analysts anticipate that the business will report sales of $808.96 million, with estimates ranging from $801.85 million to $817.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Pivotal Software.
Get Pivotal Software alerts:Pivotal Software (NASDAQ:PVTL) last posted its quarterly earnings data on Tuesday, December 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. The business had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $164.11 million. The business’s quarterly revenue was up 30.3% on a year-over-year basis.
Several brokerages have weighed in on PVTL. Royal Bank of Canada upgraded Pivotal Software from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 20th. Zacks Investment Research cut Pivotal Software from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Needham & Company LLC upped their target price on Pivotal Software from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.23.
Shares of PVTL stock traded up $0.94 during mid-day trading on Wednesday, hitting $21.16. The stock had a trading volume of 4,079,599 shares, compared to its average volume of 1,644,725. Pivotal Software has a 12-month low of $14.43 and a 12-month high of $31.24.
In other news, SVP Edward Hieatt sold 44,791 shares of Pivotal Software stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $20.01, for a total value of $896,267.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President William Cook sold 30,000 shares of Pivotal Software stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $20.00, for a total value of $600,000.00. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently modified their holdings of PVTL. Bank of America Corp DE grew its stake in shares of Pivotal Software by 1,232.4% in the fourth quarter. Bank of America Corp DE now owns 2,827,457 shares of the company’s stock valued at $46,229,000 after buying an additional 2,615,254 shares in the last quarter. BlackRock Inc. purchased a new position in Pivotal Software in the second quarter valued at $40,940,000. SQN Investors LP boosted its holdings in Pivotal Software by 2,772.5% in the third quarter. SQN Investors LP now owns 1,726,349 shares of the company’s stock valued at $33,802,000 after purchasing an additional 1,666,250 shares during the period. Wells Fargo & Company MN boosted its holdings in Pivotal Software by 88.1% in the third quarter. Wells Fargo & Company MN now owns 2,890,993 shares of the company’s stock valued at $56,606,000 after purchasing an additional 1,353,731 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Pivotal Software by 729.3% in the fourth quarter. Two Sigma Investments LP now owns 706,308 shares of the company’s stock valued at $11,548,000 after purchasing an additional 621,143 shares during the period.
About Pivotal Software
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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