JPMorgan Chase & Co. Increases VMware Price Target to $121.00 (VMW)
Equities research analysts at JPMorgan Chase & Co. lifted their target price on shares of VMware (NYSE:VMW) from $113.00 to $121.00 in a research note issued to investors on Wednesday, AnalystRatings.Net reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 27.45% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets raised their price target on shares of VMware from $105.00 to $107.00 in a research note to investors on Wednesday. Separately, analysts at Evercore Partners raised their price target on shares of VMware from $90.00 to $98.00 in a research note to investors on Wednesday. Finally, analysts at Global Equities Research raised their price target on shares of VMware to $120.00 in a research note to investors on Monday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. VMware currently has a consensus rating of “Buy” and a consensus price target of $99.31.
Shares of VMware (NYSE:VMW) opened at 94.94 on Wednesday. VMware has a 1-year low of $64.86 and a 1-year high of $101.52. The stock’s 50-day moving average is $91.56 and its 200-day moving average is $84.38. The company has a market cap of $40.859 billion and a price-to-earnings ratio of 45.42. VMware also was the target of some unusual options trading activity on Tuesday. Traders bought 16,536 call options on the stock. This is an increase of 363% compared to the average daily volume of 3,573 call options.
VMware (NYSE:VMW) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts expect that VMware will post $3.37 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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