VMware (VMW) Given New $175.00 Price Target at Deutsche Bank

VMware (NYSE:VMW) had its price objective increased by Deutsche Bank from $145.00 to $175.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the virtualization software provider’s stock. Deutsche Bank’s price target points to a potential upside of 35.46% from the company’s current price.

VMW has been the topic of a number of other research reports. Gabelli downgraded shares of VMware from a “buy” rating to a “hold” rating in a report on Friday, December 1st. They noted that the move was a valuation call. CIBC upped their price target on shares of VMware from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, December 1st. Cowen reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of VMware in a report on Monday. Robert W. Baird reaffirmed a “buy” rating and issued a $125.00 price target on shares of VMware in a report on Wednesday, October 4th. Finally, Zacks Investment Research downgraded shares of VMware from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have given a buy rating to the stock. VMware currently has a consensus rating of “Buy” and a consensus target price of $130.84.

VMware (NYSE VMW) traded down $20.81 during mid-day trading on Monday, reaching $129.19. 14,571,107 shares of the company were exchanged, compared to its average volume of 3,378,042. The stock has a market capitalization of $55,440.00, a P/E ratio of 36.91, a P/E/G ratio of 3.45 and a beta of 0.67. VMware has a 52-week low of $85.45 and a 52-week high of $165.00. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.51.

VMware (NYSE:VMW) last released its quarterly earnings data on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. VMware had a net margin of 18.97% and a return on equity of 18.57%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. analysts predict that VMware will post 3.77 earnings per share for the current year.

In related news, COO Rajiv Ramaswami sold 9,747 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $118.16, for a total transaction of $1,151,705.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Egon Durban sold 435,682 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 484,155 shares of company stock worth $53,551,032 in the last three months. Insiders own 34.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in VMW. APG Asset Management N.V. lifted its stake in shares of VMware by 302.3% during the third quarter. APG Asset Management N.V. now owns 2,044,921 shares of the virtualization software provider’s stock valued at $223,285,000 after buying an additional 1,536,600 shares during the period. Janus Henderson Group PLC lifted its stake in shares of VMware by 6,030.7% during the second quarter. Janus Henderson Group PLC now owns 806,433 shares of the virtualization software provider’s stock valued at $70,506,000 after buying an additional 793,279 shares during the period. Arrowstreet Capital Limited Partnership increased its position in VMware by 75.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,169,757 shares of the virtualization software provider’s stock worth $102,272,000 after purchasing an additional 501,400 shares during the last quarter. Koch Industries Inc. increased its position in VMware by 16,537.3% during the second quarter. Koch Industries Inc. now owns 479,821 shares of the virtualization software provider’s stock worth $474,000 after purchasing an additional 476,937 shares during the last quarter. Finally, Royal Bank of Canada increased its position in VMware by 69.0% during the second quarter. Royal Bank of Canada now owns 880,908 shares of the virtualization software provider’s stock worth $77,018,000 after purchasing an additional 359,741 shares during the last quarter. 22.40% of the stock is currently owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for VMware (NYSE:VMW)

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