Pivotal Software (PVTL) shares are trading at $27.10. What's driving PVTL stock price? What's PVTL stock price forecast, and what should investors know about Pivotal?

Pivotal Software which offers a cloud-based software development platform is another successful IPO story this year. It is a platform-as-a-service provider as its core product Pivotal Cloud Foundry allows developers to manage applications instead of infrastructure.

Investors are bullish about the company’s strong top-line growth. On the other hand, some investors worry about the dual-class voting structure which gives Dell Technologies 96% of voting power, so Pivotal is essentially perceived as a subsidiary of Dell.

During the last quarterly results, the company beat the analyst estimates. Revenue grew 28.5% to $155.74 million and EPS was -$0.10. Subscription revenue grew 69% to $90.1 million and the company expects subscription revenue to grow even faster in the future. Subscription revenue made around 35% of total revenue a couple of years back and in the first quarter of 2018, that share was 58%.

The company will release its second-quarter results after market close on September 12, 2018. Management revenue guidance is from $157 million to $159 million, with EPS ranging from -$0.10 to -$0.09.

What is the sentiment towards the PVTL stock? Our technical analysis shows that:

The stock short-term sentiment (next 30 days) is trending positive;

The mid-term sentiment (3-6 months) is trending positive;

The long-term sentiment (9-12 months) is neutral.

Over the last month, Pivotal Software (PVTL) returned +16.72%.

Pivotal Software (PVTL) average analyst price target ($25.10) is -8.76% below its current price ($27.51).

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