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.

About Vmware

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).

Analyst Recommendations for Vmware (NYSE:VMW)

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