Vmware, Inc. (VMW) Given Average Recommendation of “Buy” by Analysts
Vmware, Inc. (NYSE:VMW) has been given a consensus recommendation of “Buy” by the thirty-five brokerages that are covering the company, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $112.28.
A number of equities research analysts have weighed in on VMW shares. BidaskClub lowered Vmware from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Stifel Nicolaus raised Vmware from a “hold” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $109.00 in a report on Wednesday, June 21st. Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Thursday, July 13th. Citigroup Inc. lifted their price objective on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 11th. Finally, Mizuho lifted their price objective on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, August 14th.
ILLEGAL ACTIVITY NOTICE: “Vmware, Inc. (VMW) Given Average Recommendation of “Buy” by Analysts” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/vmware-inc-vmw-given-average-recommendation-of-buy-by-analysts/1614706.html.
Shares of Vmware (NYSE VMW) opened at 111.53 on Friday. Vmware has a 52 week low of $72.27 and a 52 week high of $112.00. The stock has a 50 day moving average price of $107.16 and a 200-day moving average price of $95.77. The stock has a market cap of $45.61 billion, a P/E ratio of 40.15 and a beta of 0.72.
Vmware (NYSE:VMW) last issued its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts predict that Vmware will post $5.07 EPS for the current fiscal year.
Vmware announced that its Board of Directors has authorized a share buyback program on Monday, August 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the sale, the chief operating officer now directly owns 313,721 shares in the company, valued at $27,557,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $1,480,845.19. The disclosure for this sale can be found here. Insiders have sold 41,342 shares of company stock valued at $4,045,490 over the last 90 days. 0.52% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of VMW. BlackRock Inc. boosted its holdings in Vmware by 4,817.7% during the first quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock worth $469,811,000 after buying an additional 4,995,179 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Vmware by 6,030.7% during the second quarter. Janus Henderson Group PLC now owns 806,433 shares of the virtualization software provider’s stock worth $70,506,000 after buying an additional 793,279 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Vmware by 25.7% during the second quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock worth $230,241,000 after buying an additional 538,393 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Vmware by 75.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,169,757 shares of the virtualization software provider’s stock worth $102,272,000 after buying an additional 501,400 shares in the last quarter. Finally, Koch Industries Inc. boosted its holdings in Vmware by 16,537.3% during the second quarter. Koch Industries Inc. now owns 479,821 shares of the virtualization software provider’s stock worth $474,000 after buying an additional 476,937 shares in the last quarter. Hedge funds and other institutional investors 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).
Receive News & Ratings for Vmware Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vmware Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.