VMware, Inc. (NYSE:VMW) Given Average Recommendation of “Buy” by Analysts

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Shares of VMware, Inc. (NYSE:VMW) have been assigned an average recommendation of “Buy” from the twenty-nine research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $166.91.

A number of equities analysts recently commented on the company. Stifel Nicolaus upgraded VMware from a “hold” rating to a “buy” rating and increased their price objective for the stock from $166.00 to $196.00 in a report on Tuesday, June 23rd. KeyCorp increased their price objective on VMware from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Bank of America upped their target price on VMware from $135.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Tigress Financial reaffirmed a “buy” rating on shares of VMware in a research report on Monday, June 22nd. Finally, Zacks Investment Research cut VMware from a “buy” rating to a “hold” rating and set a $143.00 target price for the company. in a research report on Monday, June 15th.

In related news, COO Rangarajan (Raghu) Raghuram sold 26,817 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $139.62, for a total value of $3,744,189.54. Following the completion of the transaction, the chief operating officer now directly owns 110,920 shares of the company’s stock, valued at $15,486,650.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Sanjay Poonen sold 33,481 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $140.51, for a total value of $4,704,415.31. Following the completion of the transaction, the chief operating officer now directly owns 261,997 shares of the company’s stock, valued at $36,813,198.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,772 shares of company stock valued at $12,481,442. 28.50% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Premier Asset Management LLC acquired a new position in VMware during the second quarter worth $7,940,000. World Asset Management Inc acquired a new position in VMware during the second quarter worth $222,000. First Quadrant L P CA raised its stake in VMware by 185.3% during the second quarter. First Quadrant L P CA now owns 856 shares of the virtualization software provider’s stock worth $133,000 after acquiring an additional 556 shares in the last quarter. Vanguard Group Inc. raised its stake in VMware by 0.6% during the second quarter. Vanguard Group Inc. now owns 4,987,643 shares of the virtualization software provider’s stock worth $772,387,000 after acquiring an additional 28,593 shares in the last quarter. Finally, Raymond James & Associates raised its stake in VMware by 8.5% during the second quarter. Raymond James & Associates now owns 156,727 shares of the virtualization software provider’s stock worth $24,271,000 after acquiring an additional 12,278 shares in the last quarter. Hedge funds and other institutional investors own 18.54% of the company’s stock.

NYSE:VMW opened at $143.15 on Wednesday. The stock’s 50 day moving average price is $140.78 and its 200 day moving average price is $135.18. VMware has a 52 week low of $86.00 and a 52 week high of $173.37. The company has a market capitalization of $60.14 billion, a P/E ratio of 33.76, a P/E/G ratio of 2.40 and a beta of 0.67. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 0.88.

VMware (NYSE:VMW) last released its quarterly earnings data on Thursday, August 27th. The virtualization software provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.36. VMware had a return on equity of 27.92% and a net margin of 15.94%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that VMware will post 4.4 earnings per share for the current fiscal year.

About VMware

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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Analyst Recommendations for VMware (NYSE:VMW)

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