Janney Montgomery Scott Reiterates Buy Rating for VMware (VMW)
VMware (NYSE:VMW)‘s stock had its “buy” rating reiterated by stock analysts at Janney Montgomery Scott in a report issued on Wednesday, Analyst Ratings Network.com reports. They currently have a $100.00 target price on the stock. Janney Montgomery Scott’s price target would suggest a potential upside of 25.53% from the company’s previous close.
A number of other firms have also recently commented on VMW. Analysts at BMO Capital Markets cut their price target on shares of VMware from $87.00 to $85.00 in a research note to investors on Wednesday. They now have a “market perform” rating on the stock. Separately, analysts at Piper Jaffray Cos. reiterated a “neutral” rating on shares of VMware in a research note to investors on Thursday, October 10th. Finally, analysts at FBN Securities upgraded shares of VMware from a “sector perform” rating to an “outperform” rating in a research note to investors on Thursday, October 3rd. They now have a $100.00 price target on the stock, up previously from $90.00. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. VMware currently has an average rating of “Hold” and a consensus target price of $92.48.
VMware (NYSE:VMW) traded up 2.25% during mid-day trading on Wednesday, hitting $79.66. 1,985,979 shares of the company’s stock traded hands. VMware has a 1-year low of $64.86 and a 1-year high of $99.55. The stock’s 50-day moving average is $83.91 and its 200-day moving average is $77.27. The company has a market cap of $34.215 billion and a price-to-earnings ratio of 43.04.
VMware (NYSE:VMW) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.77 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts expect that VMware will post $3.32 EPS for the current fiscal year.
VMware, Inc is the provider of virtualization infrastructure solutions utilized by organizations to help transform the way they build, deliver and consume information technology (NYSE:VMW) resources.
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