$3.23 Billion in Sales Expected for VMware, Inc. (NYSE:VMW) This Quarter


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Brokerages expect that VMware, Inc. (NYSE:VMW) will report sales of $3.23 billion for the current fiscal quarter, according to Zacks. Twelve analysts have made estimates for VMware’s earnings, with the lowest sales estimate coming in at $3.22 billion and the highest estimate coming in at $3.29 billion. VMware posted sales of $3.07 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, February 25th.

According to Zacks, analysts expect that VMware will report full year sales of $11.71 billion for the current year, with estimates ranging from $11.70 billion to $11.76 billion. For the next year, analysts anticipate that the firm will post sales of $12.69 billion, with estimates ranging from $12.50 billion to $13.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover VMware.

VMware (NYSE:VMW) last announced its quarterly earnings data on Monday, November 23rd. The virtualization software provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.44 by $0.22. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. VMware had a return on equity of 27.10% and a net margin of 13.75%. During the same period in the prior year, the company earned $1.16 EPS.

VMW has been the topic of several recent research reports. William Blair lowered VMware from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 13th. Piper Sandler increased their price objective on VMware from $170.00 to $179.00 in a research report on Wednesday, November 25th. Morgan Stanley increased their price objective on VMware from $149.00 to $156.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 25th. Barclays reduced their price objective on VMware from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 25th. Finally, UBS Group dropped their target price on VMware from $152.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, January 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. VMware currently has an average rating of “Buy” and a consensus price target of $166.91.

In other news, COO Rangarajan (Raghu) Raghuram sold 5,942 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $145.62, for a total value of $865,274.04. Following the completion of the transaction, the chief operating officer now owns 197,975 shares in the company, valued at approximately $28,829,119.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 28.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FIL Ltd lifted its stake in shares of VMware by 193.9% in the 4th quarter. FIL Ltd now owns 1,648,216 shares of the virtualization software provider’s stock valued at $231,179,000 after purchasing an additional 1,087,452 shares during the period. Bennicas & Associates Inc. bought a new position in VMware during the 4th quarter valued at approximately $1,964,000. Exchange Traded Concepts LLC increased its position in VMware by 24.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 496 shares of the virtualization software provider’s stock valued at $71,000 after buying an additional 98 shares in the last quarter. Whitener Capital Management Inc. increased its position in VMware by 14.1% during the 4th quarter. Whitener Capital Management Inc. now owns 1,620 shares of the virtualization software provider’s stock valued at $227,000 after buying an additional 200 shares in the last quarter. Finally, Boston Common Asset Management LLC increased its position in VMware by 12.6% during the 4th quarter. Boston Common Asset Management LLC now owns 34,589 shares of the virtualization software provider’s stock valued at $4,851,000 after buying an additional 3,877 shares in the last quarter. Institutional investors own 16.90% of the company’s stock.

Shares of VMware stock traded down $0.46 during trading on Thursday, hitting $143.41. 32,856 shares of the stock traded hands, compared to its average volume of 1,692,995. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.59. The stock has a market cap of $60.20 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 1.94 and a beta of 0.87. The firm’s fifty day moving average is $140.66 and its 200-day moving average is $118.06. VMware has a 52 week low of $86.00 and a 52 week high of $161.95.

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. It 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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