Vmware, Inc. (VMW) Earns “Buy” Rating from Drexel Hamilton
Vmware, Inc. (NYSE:VMW)‘s stock had its “buy” rating reissued by equities research analysts at Drexel Hamilton in a research note issued to investors on Thursday. They presently have a $120.00 target price on the virtualization software provider’s stock. Drexel Hamilton’s target price would suggest a potential upside of 0.26% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on VMW. BMO Capital Markets upped their price objective on Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 15th. Citigroup Inc. upped their price objective on Vmware from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Mizuho upped their price objective on Vmware from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Robert W. Baird set a $115.00 target price on Vmware and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 target price (up from $115.00) on shares of Vmware in a research report on Wednesday, September 27th. Fifteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Vmware has a consensus rating of “Buy” and an average price target of $113.88.
Vmware (NYSE:VMW) last issued its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS.
Vmware declared that its Board of Directors has authorized a share repurchase program on Monday, August 14th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the virtualization software provider to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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In other Vmware news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $107.82, for a total transaction of $646,920.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider P. Kevan Krysler sold 13,751 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $107.69, for a total value of $1,480,845.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,885 shares of company stock worth $2,248,548. Corporate insiders own 0.52% of the company’s stock.
Institutional investors have recently modified their holdings of the business. BlueMountain Capital Management LLC acquired a new stake in shares of Vmware during the 1st quarter worth $106,000. Advantage Investment Management LLC acquired a new stake in shares of Vmware during the 1st quarter worth $139,000. Financial Architects Inc acquired a new stake in shares of Vmware during the 1st quarter worth $140,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Vmware during the 1st quarter worth $141,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Vmware by 34.4% during the 4th 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. 22.28% of the stock is currently owned by institutional investors.
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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