Vmware (NYSE:VMW) had its target price hoisted by equities researchers at CIBC from $120.00 to $135.00 in a report issued on Friday. The firm presently has an “outperform” rating on the virtualization software provider’s stock. CIBC’s price target indicates a potential upside of 8.49% from the company’s previous close.

Several other research firms have also recently commented on VMW. BMO Capital Markets raised their target price on shares of Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 15th. Drexel Hamilton restated a “buy” rating and issued a $120.00 target price on shares of Vmware in a research note on Thursday, November 2nd. Deutsche Bank raised their target price on shares of Vmware from $100.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Bank of America restated a “buy” rating and issued a $125.00 target price (up previously from $120.00) on shares of Vmware in a research note on Thursday, September 14th. Finally, Oppenheimer restated a “buy” rating on shares of Vmware in a research note on Tuesday, August 29th. Fifteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $124.50.

Vmware (NYSE VMW) traded up $4.33 during mid-day trading on Friday, hitting $124.44. 5,756,252 shares of the stock traded hands, compared to its average volume of 1,602,200. Vmware has a one year low of $76.81 and a one year high of $127.60. The firm has a market cap of $50,890.00, a PE ratio of 35.87, a PEG ratio of 2.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.98 and a quick ratio of 1.98.

Vmware (NYSE:VMW) last released its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the business earned $1.14 EPS. The business’s revenue was up 11.1% on a year-over-year basis. 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 initiated a share repurchase program on Monday, August 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the virtualization software provider to buy 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.

In other Vmware news, COO Sanjay Poonen sold 1,134 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $106.51, for a total transaction of $120,782.34. Following the completion of the sale, the chief operating officer now owns 192,774 shares in the company, valued at $20,532,358.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total transaction of $47,624,399.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 446,563 shares of company stock valued at $48,896,887. Insiders own 34.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its stake in Vmware by 0.3% during 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 last quarter. 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 valued at $1,339,000 after purchasing an additional 66 shares during the last quarter. Capstone Asset Management Co. increased its stake in Vmware by 2.4% during the second quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock valued at $335,000 after purchasing an additional 90 shares during the last quarter. Laurion Capital Management LP increased its stake in Vmware by 2.8% during the second quarter. Laurion Capital Management LP now owns 3,700 shares of the virtualization software provider’s stock valued at $323,000 after purchasing an additional 100 shares during the last quarter. Finally, CFO4Life Group LLC increased its stake in Vmware by 2.2% during the second quarter. CFO4Life Group LLC now owns 5,644 shares of the virtualization software provider’s stock valued at $493,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 22.21% of the company’s stock.

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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).

Analyst Recommendations for Vmware (NYSE:VMW)

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