Vmware, Inc. (VMW) Upgraded to “Overweight” at Barclays PLC
Vmware, Inc. (NYSE:VMW) was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $130.00 price target on the virtualization software provider’s stock, up from their previous price target of $109.00. Barclays PLC’s price target suggests a potential upside of 17.91% from the company’s previous close.
Other equities analysts have also issued reports about the company. Oppenheimer Holdings, Inc. raised their price objective on Vmware from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Maxim Group reissued a “hold” rating and set a $96.00 price objective on shares of Vmware in a research note on Friday, June 2nd. BidaskClub lowered Vmware from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Stifel Nicolaus raised Vmware from a “hold” rating to a “buy” rating and raised their price objective for the stock from $96.00 to $109.00 in a research note on Wednesday, June 21st. Finally, Cowen and Company reissued a “market perform” rating and set a $104.00 price objective (up from $98.00) on shares of Vmware in a research note on Monday, August 14th. Thirteen analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Vmware has a consensus rating of “Buy” and a consensus target price of $112.00.
Vmware (VMW) traded down 0.45% on Thursday, reaching $110.25. 1,257,925 shares of the company’s stock traded hands. The stock has a market capitalization of $45.09 billion, a price-to-earnings ratio of 39.69 and a beta of 0.74. Vmware has a 52 week low of $72.05 and a 52 week high of $111.61. The firm has a 50-day moving average price of $100.28 and a 200-day moving average price of $93.70.
Vmware (NYSE:VMW) last posted its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Vmware will post $5.06 earnings per share for the current year.
Vmware declared that its board has initiated a share repurchase plan on Monday, August 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the virtualization software provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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In other Vmware news, insider P. Kevan Krysler sold 13,751 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $107.69, for a total transaction of $1,480,845.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $107.82, for a total transaction of $646,920.00. The disclosure for this sale can be found here. Insiders sold a total of 41,342 shares of company stock valued at $4,045,490 in the last 90 days. 0.52% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in VMW. BlackRock Inc. boosted its stake in Vmware by 4,817.7% in the 1st quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock worth $469,811,000 after purchasing an additional 4,995,179 shares during the period. Janus Henderson Group PLC boosted its stake in Vmware by 6,030.7% in the 2nd quarter. Janus Henderson Group PLC now owns 806,433 shares of the virtualization software provider’s stock worth $70,506,000 after purchasing an additional 793,279 shares during the period. Voya Investment Management LLC boosted its stake in Vmware by 25.7% in the 2nd quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock worth $230,241,000 after purchasing an additional 538,393 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Vmware by 75.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,169,757 shares of the virtualization software provider’s stock worth $102,272,000 after purchasing an additional 501,400 shares during the period. Finally, Koch Industries Inc. boosted its stake in Vmware by 16,537.3% in the 2nd quarter. Koch Industries Inc. now owns 479,821 shares of the virtualization software provider’s stock worth $474,000 after purchasing an additional 476,937 shares during the period. 21.81% of the stock is owned by 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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