Vmware (VMW) Price Target Raised to $135.00

Vmware (NYSE:VMW) had its price target lifted by research analysts at Oppenheimer from $120.00 to $135.00 in a research note issued on Friday. The brokerage presently has an “outperform” rating on the virtualization software provider’s stock. Oppenheimer’s target price would suggest a potential upside of 12.40% from the company’s current price.

A number of other analysts have also recently weighed in on VMW. Mizuho restated a “hold” rating and issued a $110.00 price target on shares of Vmware in a research note on Thursday. BMO Capital Markets raised shares of Vmware from a “market perform” rating to an “outperform” rating and set a $142.00 price objective on the stock in a research report on Friday. Jefferies Group restated a “buy” rating and issued a $140.00 price target on shares of Vmware in a research note on Friday. Citigroup raised their price target on shares of Vmware to $145.00 and gave the company a “buy” rating in a research note on Friday. Finally, Drexel Hamilton lowered Vmware from a “buy” rating to a “hold” rating in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $121.65.

Vmware (VMW) opened at $120.11 on Friday. The firm has a market cap of $52,165.21, a P/E ratio of 35.87, a PEG ratio of 2.92 and a beta of 0.67. Vmware has a 1-year low of $76.81 and a 1-year high of $127.60. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.10.

Vmware (NYSE:VMW) last announced its quarterly earnings data on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.07. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts expect that Vmware will post 3.79 EPS for the current fiscal year.

Vmware announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

In other Vmware news, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total value of $47,624,399.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Sanjay Poonen sold 1,134 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $106.51, for a total transaction of $120,782.34. Following the transaction, the chief operating officer now owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 446,563 shares of company stock valued at $48,896,887. 34.40% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in shares of Vmware by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,299 shares of the virtualization software provider’s stock valued at $463,000 after purchasing an additional 14 shares during the period. Federated Investors Inc. PA increased its stake in Vmware by 0.4% during the second quarter. Federated Investors Inc. PA now owns 15,323 shares of the virtualization software provider’s stock worth $1,339,000 after acquiring an additional 66 shares during the last quarter. Capstone Asset Management Co. raised its holdings in Vmware by 2.4% in the 2nd quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock worth $335,000 after acquiring an additional 90 shares during the period. Laurion Capital Management LP boosted its position in Vmware by 2.8% in the second quarter. Laurion Capital Management LP now owns 3,700 shares of the virtualization software provider’s stock valued at $323,000 after buying an additional 100 shares in the last quarter. Finally, CFO4Life Group LLC lifted its position in shares of Vmware by 2.2% during the second quarter. CFO4Life Group LLC now owns 5,644 shares of the virtualization software provider’s stock worth $493,000 after purchasing an additional 121 shares in the last quarter. 22.21% of the stock is owned by institutional investors.

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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).

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