VMware (VMW) Coverage Initiated by Analysts at Wedbush

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Wedbush initiated coverage on shares of VMware (NYSE:VMW) in a research report report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $185.00 price objective on the virtualization software provider’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of VMware from a buy rating to a hold rating in a research note on Saturday, July 7th. Wells Fargo & Co raised their target price on shares of VMware from $135.00 to $155.00 and gave the company a market perform rating in a research note on Tuesday, July 10th. BMO Capital Markets increased their price target on shares of VMware from $155.00 to $175.00 and gave the company an outperform rating in a research report on Tuesday, July 3rd. Maxim Group increased their price target on shares of VMware from $142.00 to $150.00 and gave the company a hold rating in a research report on Friday, August 24th. Finally, Stifel Nicolaus increased their price target on shares of VMware from $122.00 to $142.00 and gave the company a hold rating in a research report on Friday, August 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $158.04.

VMW traded down $4.87 on Thursday, reaching $140.74. The company had a trading volume of 99,252 shares, compared to its average volume of 1,276,672. The company has a market capitalization of $60.56 billion, a P/E ratio of 37.61, a P/E/G ratio of 2.36 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.01 and a quick ratio of 3.01. VMware has a 52-week low of $108.46 and a 52-week high of $165.00.

VMware (NYSE:VMW) last announced its earnings results on Thursday, August 23rd. The virtualization software provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. VMware had a net margin of 18.77% and a return on equity of 20.00%. VMware’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $1.19 earnings per share. On average, equities analysts anticipate that VMware will post 4.73 earnings per share for the current year.

In other news, VP Amy Fliegelman Olli sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $152.77, for a total value of $229,155.00. Following the transaction, the vice president now owns 30,930 shares in the company, valued at $4,725,176.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $152.13, for a total transaction of $3,803,250.00. Following the completion of the transaction, the chief executive officer now owns 411,923 shares in the company, valued at approximately $62,665,845.99. The disclosure for this sale can be found here. Insiders sold 41,263 shares of company stock worth $6,327,817 in the last 90 days. Company insiders own 29.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Jafra Capital Management LP bought a new stake in VMware in the second quarter valued at $2,205,000. Pinebridge Investments L.P. boosted its holdings in VMware by 12.3% in the second quarter. Pinebridge Investments L.P. now owns 137,860 shares of the virtualization software provider’s stock valued at $20,261,000 after acquiring an additional 15,107 shares in the last quarter. Bank of Hawaii purchased a new position in VMware during the second quarter valued at $251,000. Marietta Investment Partners LLC purchased a new position in VMware during the second quarter valued at $590,000. Finally, Goodwin Daniel L purchased a new position in VMware during the second quarter valued at $220,000. Hedge funds and other institutional investors own 20.02% of the company’s stock.

About VMware

VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.

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Analyst Recommendations for VMware (NYSE:VMW)

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