Morgan Stanley reissued their buy rating on shares of VMware Inc. (NYSE:VMW) in a research report report published on Monday morning. Morgan Stanley currently has a $86.00 target price on the virtualization software provider’s stock.
Other equities analysts have also recently issued research reports about the stock. MKM Partners reissued a buy rating and set a $80.00 target price (up previously from $70.00) on shares of VMware in a research report on Tuesday, July 12th. Drexel Hamilton reaffirmed a buy rating and issued a $85.00 price target (up previously from $77.00) on shares of VMware in a report on Monday, July 18th. Jefferies Group reaffirmed a buy rating and issued a $83.00 price target on shares of VMware in a report on Wednesday, July 6th. Vetr raised shares of VMware from a hold rating to a buy rating and set a $63.40 price target on the stock in a report on Monday, June 20th. Finally, Zacks Investment Research raised shares of VMware from a hold rating to a buy rating and set a $80.00 price target on the stock in a report on Saturday, July 23rd. One analyst has rated the stock with a sell rating, twenty-eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. VMware presently has an average rating of Hold and a consensus price target of $77.49.
Shares of VMware (NYSE:VMW) opened at 73.44 on Monday. The firm has a market cap of $31.17 billion, a P/E ratio of 29.59 and a beta of 1.30. VMware has a one year low of $43.25 and a one year high of $82.35. The firm has a 50 day moving average price of $72.95 and a 200-day moving average price of $62.42.
VMware (NYSE:VMW) last posted its earnings results on Monday, July 18th. The virtualization software provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.02. VMware had a net margin of 15.47% and a return on equity of 15.66%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned $0.93 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts forecast that VMware will post $4.29 earnings per share for the current year.
In related news, insider P. Kevan Krysler sold 6,988 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total value of $505,931.20. Following the sale, the insider now owns 78,654 shares in the company, valued at $5,694,549.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP S. Dawn Smith sold 632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.40, for a total transaction of $48,284.80. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of VMware by 10.5% in the second quarter. Pacer Advisors Inc. now owns 1,773 shares of the virtualization software provider’s stock valued at $101,000 after buying an additional 168 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in VMware during the first quarter valued at $106,000. Advisor Group Inc. acquired a new position in VMware during the second quarter valued at $163,000. Acrospire Investment Management LLC acquired a new position in VMware during the first quarter valued at $183,000. Finally, WMS Partners LLC acquired a new position in VMware during the second quarter valued at $206,000. Institutional investors own 22.06% of the company’s stock.
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).
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