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VMware (NYSE:VMW) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.

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 has a 50-day moving average of $91.56 and a 200-day moving average of $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 recipient of some unusual options trading on Tuesday. Stock traders purchased 16,536 call options on the company. This is an increase of approximately 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 (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. Analysts expect that VMware will post $3.37 EPS for the current fiscal year.

A number of other firms have also recently commented on VMW. Analysts at JPMorgan Chase & Co. raised their price target on shares of VMware from $113.00 to $121.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. VMware has a consensus rating of “Buy” and a consensus price target of $99.36.

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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