Shares of Pivotal Software were down as much as 45% Wednesday after the company's weak revenue forecast
"I think it's really causing customers to take their time and think about what they're doing," Mee said. He added that the company named a new head of sales for the Americas.
Some analysts downgraded the stock after the report. Daniel Ives and Strecker Backe of Wedbush Securities, reduced their rating to "neutral" from "outperform," cut their price target from $26 to $15 and described the quarter and guidance as a "train wreck." They said Pivotal could be an acquisition prospect over time, but for now no buyer would closely consider it because of the issues it faces with growth.
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