Morgan Stanley reaffirmed their buy rating on shares of VMware Inc. (NYSE:VMW) in a research report report published on Monday. They currently have a $86.00 target price on the virtualization software provider’s stock.
Several other research firms also recently weighed in on VMW. Mizuho reiterated a neutral rating and set a $66.00 target price (up from $61.00) on shares of VMware in a research report on Thursday, September 1st. Vetr lowered VMware from a buy rating to a hold rating and set a $63.40 price target for the company. in a research note on Wednesday, June 1st. Robert W. Baird restated a neutral rating and set a $77.00 price target (up from $60.00) on shares of VMware in a research note on Wednesday, July 20th. Cowen and Company restated a market perform rating on shares of VMware in a research note on Wednesday, July 20th. Finally, Drexel Hamilton restated a buy rating and set a $85.00 price target (up from $77.00) on shares of VMware in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. VMware currently has an average rating of Hold and a consensus price target of $77.49.
Shares of VMware (NYSE:VMW) opened at 73.08 on Monday. The stock has a market cap of $31.02 billion, a PE ratio of 29.44 and a beta of 1.30. VMware has a 1-year low of $43.25 and a 1-year high of $82.35. The company’s 50-day moving average price is $73.15 and its 200 day moving average price is $62.75.
VMware (NYSE:VMW) last released its earnings results on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.02. VMware had a return on equity of 15.66% and a net margin of 15.47%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts forecast that VMware will post $4.29 EPS for the current fiscal year.
In related news, insider P. Kevan Krysler sold 6,988 shares of VMware stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $72.40, for a total transaction of $505,931.20. Following the completion of the sale, the insider now owns 78,654 shares of the company’s stock, valued at $5,694,549.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP S. Dawn Smith sold 977 shares of VMware stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $73.59, for a total value of $71,897.43. Following the sale, the vice president now directly owns 54,653 shares of the company’s stock, valued at approximately $4,021,914.27. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Dodge & Cox boosted its stake in VMware by 29.7% in the second quarter. Dodge & Cox now owns 11,890,635 shares of the virtualization software provider’s stock worth $680,382,000 after buying an additional 2,726,144 shares during the last quarter. Vanguard Group Inc. boosted its stake in VMware by 2.0% in the second quarter. Vanguard Group Inc. now owns 3,795,842 shares of the virtualization software provider’s stock worth $217,198,000 after buying an additional 74,915 shares during the last quarter. Renaissance Technologies LLC boosted its stake in VMware by 76.3% in the first quarter. Renaissance Technologies LLC now owns 2,285,300 shares of the virtualization software provider’s stock worth $119,544,000 after buying an additional 989,100 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in VMware by 1.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,079,388 shares of the virtualization software provider’s stock worth $118,983,000 after buying an additional 30,977 shares during the last quarter. Finally, Paulson & CO. Inc. purchased a new stake in VMware during the second quarter worth about $112,844,000. 22.06% of the stock is owned by hedge funds and other institutional investors.
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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