VMware (VMW) PT Raised to $235.00

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VMware (NYSE:VMW) had its target price lifted by Citigroup from $201.00 to $235.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the virtualization software provider’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank boosted their price target on shares of VMware from $190.00 to $200.00 and gave the stock a buy rating in a research report on Friday, March 1st. Jefferies Financial Group reiterated a buy rating and set a $203.00 target price on shares of VMware in a research report on Friday, March 1st. Bank of America boosted their target price on shares of VMware from $190.00 to $200.00 and gave the company a buy rating in a research report on Wednesday, February 27th. Zacks Investment Research upgraded shares of VMware from a hold rating to a buy rating and set a $228.00 target price on the stock in a research report on Monday, May 6th. Finally, Evercore ISI started coverage on shares of VMware in a research report on Monday, February 4th. They set an in-line rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $189.04.

Shares of NYSE VMW opened at $197.99 on Thursday. The company has a market capitalization of $81.26 billion, a PE ratio of 40.16, a PEG ratio of 3.10 and a beta of 0.81. VMware has a 52-week low of $129.33 and a 52-week high of $206.80. The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.99 and a current ratio of 0.99.

VMware (NYSE:VMW) last issued its quarterly earnings results on Thursday, February 28th. The virtualization software provider reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.10. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.50 billion. VMware had a net margin of 26.99% and a return on equity of 25.50%. During the same quarter in the previous year, the company earned $1.68 EPS. On average, equities research analysts expect that VMware will post 4.87 EPS for the current year.

In other VMware news, CEO Patrick P. Gelsinger sold 21,086 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $178.74, for a total transaction of $3,768,911.64. Following the transaction, the chief executive officer now owns 277,920 shares in the company, valued at $49,675,420.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Amy Fliegelman Olli sold 1,723 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $178.98, for a total transaction of $308,382.54. Following the transaction, the vice president now owns 34,332 shares in the company, valued at approximately $6,144,741.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,896 shares of company stock worth $58,151,231. Corporate insiders own 28.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nkcfo LLC acquired a new position in VMware during the fourth quarter worth $120,000. Bank of Montreal Can grew its stake in shares of VMware by 1.3% in the 4th quarter. Bank of Montreal Can now owns 173,961 shares of the virtualization software provider’s stock worth $23,855,000 after acquiring an additional 2,254 shares in the last quarter. Ackerman Capital Advisors LLC grew its stake in shares of VMware by 10,184.8% in the 4th quarter. Ackerman Capital Advisors LLC now owns 205,695 shares of the virtualization software provider’s stock worth $1,500,000 after acquiring an additional 203,695 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of VMware by 183.1% in the 4th quarter. Hsbc Holdings PLC now owns 196,028 shares of the virtualization software provider’s stock worth $26,881,000 after acquiring an additional 126,788 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of VMware by 0.3% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 95,841 shares of the virtualization software provider’s stock worth $13,143,000 after acquiring an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 17.67% of the company’s stock.

VMware Company Profile

VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces 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; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.

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