Barclays PLC Raises Vmware, Inc. (VMW) Price Target to $140.00
Vmware, Inc. (NYSE:VMW) had its target price raised by research analysts at Barclays PLC from $130.00 to $140.00 in a report released on Monday. The firm presently has an “overweight” rating on the virtualization software provider’s stock. Barclays PLC’s price target points to a potential upside of 17.72% from the stock’s current price.
A number of other equities research analysts have also commented on the company. Drexel Hamilton reaffirmed a “buy” rating and set a $120.00 price target on shares of Vmware in a research report on Thursday. Zacks Investment Research lowered Vmware from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of Vmware in a research report on Tuesday, October 17th. Robert W. Baird reaffirmed a “buy” rating and set a $125.00 price target on shares of Vmware in a research report on Wednesday, October 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 price target (up previously 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 seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $115.35.
Shares of Vmware (NYSE VMW) traded up $0.99 during mid-day trading on Monday, hitting $118.93. The stock had a trading volume of 1,268,676 shares, compared to its average volume of 1,790,877. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $48,314.48, a PE ratio of 33.22, a PEG ratio of 2.70 and a beta of 0.67. Vmware has a 12 month low of $74.85 and a 12 month high of $121.09.
Vmware (NYSE:VMW) last posted its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. equities research analysts forecast that Vmware will post 3.79 earnings per share for the current year.
Vmware announced that its Board of Directors has approved a stock repurchase program on Monday, August 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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In other Vmware news, COO Sanjay Poonen sold 1,134 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $106.51, for a total transaction of $120,782.34. Following the sale, the chief operating officer now owns 192,774 shares in the company, valued at approximately $20,532,358.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 466,314 shares of company stock worth $51,024,652. 0.52% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in VMW. KBC Group grew its stake in shares of Vmware by 7.0% in the 3rd quarter. KBC Group now owns 32,962 shares of the virtualization software provider’s stock valued at $2,598,000 after buying an additional 2,142 shares in the last quarter. Water Island Capital acquired a new position in shares of Vmware during the third quarter worth approximately $3,880,000. Janus Capital Management lifted its holdings in shares of Vmware by 128.0% during the third quarter. Janus Capital Management now owns 14,600 shares of the virtualization software provider’s stock worth $1,150,000 after buying an additional 8,197 shares during the last quarter. PGGM Investments lifted its holdings in shares of Vmware by 0.4% during the fourth quarter. PGGM Investments now owns 319,484 shares of the virtualization software provider’s stock worth $18,073,000 after buying an additional 1,208 shares during the last quarter. Finally, DNB Asset Management raised its stake in shares of Vmware by 113.2% in the fourth quarter. DNB Asset Management now owns 318,869 shares of the virtualization software provider’s stock valued at $18,038,419 after purchasing an additional 169,300 shares in the last quarter. 22.27% 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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