VMware (VMW) Rating Reiterated by Cowen

VMware (NYSE:VMW)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen in a report issued on Monday. They currently have a $160.00 target price on the virtualization software provider’s stock, up from their prior target price of $150.00. Cowen’s price objective would suggest a potential upside of 22.46% from the stock’s current price.

Several other equities analysts have also commented on VMW. Citigroup upped their price target on VMware to $145.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Oppenheimer upped their price target on VMware from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, December 1st. Gabelli lowered VMware from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. They noted that the move was a valuation call. Mizuho reissued a “hold” rating and set a $110.00 target price on shares of VMware in a research note on Thursday, November 30th. Finally, Robert W. Baird reissued a “buy” rating and set a $125.00 target price on shares of VMware in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $129.64.

Shares of VMware (NYSE:VMW) traded down $19.34 during trading on Monday, hitting $130.66. The stock had a trading volume of 11,588,513 shares, compared to its average volume of 3,268,429. VMware has a twelve month low of $85.45 and a twelve month high of $165.00. The firm has a market cap of $55,440.00, a price-to-earnings ratio of 39.69, a PEG ratio of 3.45 and a beta of 0.67. 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 announced its quarterly earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.07. VMware had a return on equity of 18.57% and a net margin of 18.97%. 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 prior year, the company posted $1.14 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. research analysts expect that VMware will post 3.77 earnings per share for the current year.

In other news, COO Sanjay Poonen sold 2,764 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $118.50, for a total value of $327,534.00. Following the transaction, the chief operating officer now owns 189,391 shares in the company, valued at approximately $22,442,833.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Egon Durban sold 435,682 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 484,155 shares of company stock worth $53,551,032. 34.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of VMware by 1,643.8% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after acquiring an additional 1,200 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of VMware in the 4th quarter valued at about $209,000. Enterprise Financial Services Corp increased its holdings in shares of VMware by 3,975.6% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after acquiring an additional 1,630 shares during the last quarter. Cadence Capital Management LLC purchased a new position in shares of VMware in the 3rd quarter valued at about $204,000. Finally, Argent Trust Co acquired a new stake in shares of VMware in the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 22.40% 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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