Vmware, Inc. (VMW) Earns “Buy” Rating from Robert W. Baird
Robert W. Baird reaffirmed their buy rating on shares of Vmware, Inc. (NYSE:VMW) in a research note published on Wednesday. Robert W. Baird currently has a $125.00 target price on the virtualization software provider’s stock.
Several other equities research analysts also recently commented on the company. Morgan Stanley reaffirmed an overweight rating and set a $123.00 target price (up from $115.00) on shares of Vmware in a report on Wednesday, September 27th. Zacks Investment Research raised Vmware from a hold rating to a buy rating and set a $120.00 target price for the company in a report on Tuesday, September 26th. Bank of America Corporation reaffirmed a buy rating and set a $125.00 target price (up from $120.00) on shares of Vmware in a report on Thursday, September 14th. Barclays PLC raised Vmware from an equal weight rating to an overweight rating and upped their target price for the company from $109.00 to $130.00 in a report on Thursday, September 14th. Finally, Moffett Nathanson assumed coverage on Vmware in a report on Wednesday, September 6th. They set a neutral rating and a $120.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $112.28.
Shares of Vmware (VMW) opened at 111.53 on Wednesday. Vmware has a 52-week low of $72.27 and a 52-week high of $112.00. The stock has a market cap of $45.61 billion, a PE ratio of 40.15 and a beta of 0.72. The company’s 50-day moving average price is $107.16 and its 200-day moving average price is $95.77.
Vmware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Vmware’s revenue was up 12.2% compared to the same quarter last year. Analysts expect that Vmware will post $5.07 earnings per share for the current year.
Vmware announced that its board has initiated a share buyback plan on Monday, August 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, COO Sanjay Poonen sold 1,134 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $106.51, for a total transaction of $120,782.34. Following the completion of the transaction, the chief operating officer now owns 192,774 shares in the company, valued at approximately $20,532,358.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider P. Kevan Krysler sold 13,751 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $107.69, for a total value of $1,480,845.19. The disclosure for this sale can be found here. Insiders sold a total of 41,342 shares of company stock worth $4,045,490 in the last ninety days. Insiders own 0.52% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new position in shares of Vmware during the 1st quarter worth approximately $141,000. Penserra Capital Management LLC lifted its position in shares of Vmware by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after buying an additional 240 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of Vmware during the 2nd quarter worth approximately $191,000. BB&T Securities LLC bought a new position in shares of Vmware during the 1st quarter worth approximately $209,000. Finally, Eagle Global Advisors LLC bought a new position in shares of Vmware during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 21.82% of the company’s stock.
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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