Citigroup Inc. Raises Vmware, Inc. (VMW) Price Target to $124.00
Vmware, Inc. (NYSE:VMW) had its price objective raised by analysts at Citigroup Inc. from $120.00 to $124.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the virtualization software provider’s stock. Citigroup Inc.’s price target points to a potential upside of 34.86% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. BTIG Research started coverage on Vmware in a research report on Monday, April 17th. They set a “neutral” rating for the company. Cowen and Company lifted their target price on Vmware from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Royal Bank Of Canada lifted their target price on Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. BMO Capital Markets decreased their target price on Vmware from $105.00 to $98.00 and set a “market perform” rating for the company in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $95.00 target price on shares of Vmware in a research report on Thursday, June 1st. Seventeen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Vmware presently has a consensus rating of “Buy” and an average price target of $98.92.
Shares of Vmware (VMW) traded down 0.05% during trading on Friday, hitting $91.95. The company had a trading volume of 1,034,076 shares. The stock’s 50-day moving average price is $90.63 and its 200 day moving average price is $91.11. The company has a market capitalization of $37.55 billion, a P/E ratio of 33.10 and a beta of 0.77. Vmware has a 52 week low of $70.26 and a 52 week high of $98.00.
Vmware (NYSE:VMW) last issued its earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.71 billion. Vmware had a return on equity of 17.19% and a net margin of 17.36%. Vmware’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. On average, equities research analysts forecast that Vmware will post $4.94 earnings per share for the current year.
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In related news, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $87.84, for a total value of $1,796,942.88. Following the completion of the transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maurizio Carli sold 11,237 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was 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. Corporate insiders own 0.52% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Financial Architects Inc purchased a new position in shares of Vmware during the first quarter worth approximately $140,000. Advantage Investment Management LLC purchased a new position in shares of Vmware during the first quarter worth approximately $139,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Vmware during the first quarter worth approximately $141,000. Penserra Capital Management LLC boosted 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 worth $169,000 after buying an additional 160 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Vmware by 34.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,887 shares of the virtualization software provider’s stock worth $149,000 after buying an additional 483 shares during the last quarter. 21.86% of the stock is owned by institutional investors and hedge funds.
Vmware Company Profile
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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