VMware Price Target Increased to $98.00 by Analysts at Evercore Partners (VMW)
Stock analysts at Evercore Partners boosted their price target on shares of VMware (NYSE:VMW) from $90.00 to $98.00 in a report issued on Wednesday, American Banking & Market News reports. Evercore Partners’ price target would suggest a potential upside of 3.22% from the stock’s previous close.
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 P/E ratio of 45.42. VMware also was the recipient of unusually large options trading on Tuesday. Stock investors acquired 16,536 call options on the stock. This is an increase of 363% compared to the average volume of 3,573 call options.
VMware (NYSE:VMW) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts predict that VMware will post $3.37 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Global Equities Research raised their price target on shares of VMware to $120.00 in a research note to investors on Monday. Separately, analysts at Barclays raised their price target on shares of VMware from $106.00 to $112.00 in a research note to investors on Thursday, January 23rd. They now have an “overweight” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of VMware from $110.00 to $120.00 in a research note to investors on Thursday, January 23rd. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $98.59.
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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