VMware Upgraded to Buy at TheStreet (VMW)
VMware (NYSE:VMW) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued on Thursday, American Banking News.com reports.
The analysts wrote, “VMware (VMW) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.”
Shares of VMware (NYSE:VMW) traded down 0.27% during mid-day trading on Thursday, hitting $89.47. 512,840 shares of the company’s stock traded hands. VMware has a 52-week low of $64.86 and a 52-week high of $99.10. The stock’s 50-day moving average is $83.96 and its 200-day moving average is $80.75. The company has a market cap of $38.505 billion and a price-to-earnings ratio of 43.76.
VMware (NYSE:VMW) last announced its earnings results on Monday, October 21st. The company reported $0.84 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis.
A number of other analysts have also recently weighed in on VMW. Analysts at Atlantic Securities initiated coverage on shares of VMware in a research note to investors on Monday, December 2nd. They set an “overweight” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of VMware from $83.00 to $88.00 in a research note to investors on Wednesday, October 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Sterne Agee raised their price target on shares of VMware from $85.00 to $90.00 in a research note to investors on Wednesday, October 23rd. They now have a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $105.82.
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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