Evercore ISI Reaffirms “Hold” Rating for Vmware, Inc. (VMW)
Vmware, Inc. (NYSE:VMW)‘s stock had its “hold” rating reissued by stock analysts at Evercore ISI in a research note issued to investors on Friday. They currently have a $95.00 price objective on the virtualization software provider’s stock. Evercore ISI’s price target suggests a potential downside of 1.32% from the company’s current price.
The analysts wrote, “We will update our model and our price target following VMware’s earnings call on August 24 th .””
A number of other research firms also recently weighed in on VMW. Royal Bank Of Canada restated a “buy” rating and issued a $113.00 price target on shares of Vmware in a research note on Tuesday. Deutsche Bank AG lifted their price target on Vmware from $100.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on Vmware from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday. Cowen and Company restated a “market perform” rating and issued a $104.00 price target (up from $98.00) on shares of Vmware in a research note on Monday. Finally, Robert W. Baird set a $115.00 price target on Vmware and gave the company a “buy” rating in a research note on Monday. Eighteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Vmware has a consensus rating of “Buy” and a consensus price target of $101.12.
Shares of Vmware (NYSE VMW) traded up 0.52% on Friday, hitting $96.27. The stock had a trading volume of 770,989 shares. The company has a market cap of $39.32 billion, a price-to-earnings ratio of 34.65 and a beta of 0.77. The firm’s 50-day moving average is $91.39 and its 200-day moving average is $91.50. Vmware has a one year low of $71.42 and a one year high of $98.20.
Vmware (NYSE:VMW) last announced its earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Vmware had a return on equity of 17.19% and a net margin of 17.36%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Vmware will post $5.01 EPS for the current fiscal year.
Vmware declared that its board has approved a stock buyback plan on Monday, August 14th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the sale, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the business’s stock in a transaction dated 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. Corporate insiders own 0.52% of the company’s stock.
A number of large investors have recently bought and sold shares of VMW. Financial Architects Inc purchased a new stake in Vmware during the first quarter worth about $140,000. Advantage Investment Management LLC purchased a new stake in Vmware during the first quarter worth about $139,000. Oppenheimer Asset Management Inc. purchased a new stake in Vmware during the first quarter worth about $141,000. Penserra Capital Management LLC increased its stake in 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 period. Finally, BlueMountain Capital Management LLC purchased a new stake in Vmware during the second quarter worth about $191,000. 21.82% of the stock is owned by hedge funds and other institutional investors.
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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