Vmware, Inc. (NYSE:VMW) Given Average Recommendation of “Buy” by Analysts
Shares of Vmware, Inc. (NYSE:VMW) have received a consensus rating of “Buy” from the thirty-seven ratings firms that are presently covering the stock, Marketbeat.com reports. Seventeen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $97.19.
A number of brokerages have commented on VMW. BMO Capital Markets reiterated a “hold” rating and set a $98.00 price target on shares of Vmware in a research report on Wednesday, April 5th. Stifel Nicolaus upgraded shares of Vmware from a “hold” rating to a “buy” rating and increased their price target for the company from $96.00 to $109.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada increased their price target on shares of Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. BTIG Research reiterated a “neutral” rating on shares of Vmware in a research report on Saturday, June 3rd. Finally, BidaskClub cut shares of Vmware from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th.
Shares of Vmware (NYSE VMW) opened at 92.27 on Monday. Vmware has a 52-week low of $69.86 and a 52-week high of $98.00. The firm has a market capitalization of $37.69 billion, a P/E ratio of 33.21 and a beta of 0.76. The company’s 50-day moving average is $89.67 and its 200 day moving average is $90.03.
Vmware (NYSE:VMW) last posted its quarterly earnings data on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Vmware had a net margin of 17.36% and a return on equity of 17.19%. Vmware’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. Analysts expect that Vmware will post $4.93 EPS for the current fiscal year.
In other news, Director Egon Durban sold 666,354 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $89.14, for a total transaction of $59,398,795.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $94.66, for a total value of $1,063,694.42. The disclosure for this sale can be found here. Insiders have sold 698,048 shares of company stock valued at $62,259,433 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Advantage Investment Management LLC bought a new position in shares of Vmware during the first quarter valued at $139,000. Financial Architects Inc bought a new position in shares of Vmware during the first quarter valued at $140,000. Oppenheimer Asset Management Inc. bought a new position in shares of Vmware during the first quarter valued at $141,000. Penserra Capital Management LLC increased its position in shares of Vmware by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock valued at $169,000 after buying an additional 160 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Vmware by 7.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,452 shares of the virtualization software provider’s stock valued at $193,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 21.87% of the company’s stock.
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VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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