VMware’s “Buy” Rating Reaffirmed at Needham & Company (VMW)
VMware (NYSE:VMW)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company in a report released on Tuesday, StockRatingsNetwork.com reports. They currently have a $110.00 price target on the stock, up from their previous price target of $100.00. Needham & Company’s price objective indicates a potential upside of 33.09% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of VMware from $330.00 to $440.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of VMware from a “neutral” rating to an “overweight” rating in a research note to investors on Friday. They now have a $100.00 price target on the stock, up previously from $89.00. Finally, analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of VMware in a research note to investors on Wednesday, October 16th. They now have a $100.00 price target on the stock. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $104.93.
Shares of VMware (NYSE:VMW) opened at 82.65 on Tuesday. VMware has a 52-week low of $64.86 and a 52-week high of $99.55. The stock’s 50-day moving average is $83.52 and its 200-day moving average is $77.37. The company has a market cap of $35.500 billion and a P/E ratio of 45.66. VMware also was the target of some unusual options trading activity on Monday. Investors acquired 21,122 call options on the company. This represents an increase of 560% compared to the average volume of 3,199 call options.
VMware (NYSE:VMW) last released its earnings data on Monday, October 21st. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $0.70 earnings per share. VMware’s revenue was up 13.7% compared to the same quarter last 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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