Vmware, Inc. (NYSE:VMW) had its price target boosted by analysts at BMO Capital Markets from $105.00 to $110.00 in a report released on Tuesday. The brokerage presently has a “market perform” rating on the virtualization software provider’s stock. BMO Capital Markets’ target price points to a potential upside of 15.44% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. BTIG Research started coverage on shares of Vmware in a research report on Monday, April 17th. They set a “neutral” rating for the company. Cowen and Company lifted their price target on shares of Vmware from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. Royal Bank Of Canada lifted their price target on shares of Vmware from $97.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. J P Morgan Chase & Co reiterated an “overweight” rating and set a $95.00 price target on shares of Vmware in a research report on Thursday, June 1st. Finally, Zacks Investment Research cut shares of Vmware from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Eighteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $100.69.

Shares of Vmware (VMW) traded down 2.79% during mid-day trading on Tuesday, reaching $95.29. 2,520,918 shares of the company were exchanged. The firm has a 50-day moving average price of $90.87 and a 200 day moving average price of $91.37. Vmware has a 12 month low of $70.26 and a 12 month high of $98.20. The stock has a market capitalization of $38.92 billion, a P/E ratio of 34.30 and a beta of 0.77.

Vmware (NYSE:VMW) last issued its quarterly earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Vmware had a net margin of 17.36% and a return on equity of 17.19%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $0.86 EPS. Vmware’s revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Vmware will post $4.93 EPS for the current fiscal year.

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In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $94.66, for a total transaction of $1,063,694.42. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Vmware by 4,817.7% in the first quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock valued at $469,811,000 after buying an additional 4,995,179 shares during the period. Old Mutual Global Investors UK Ltd. raised its stake in Vmware by 846.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,155,079 shares of the virtualization software provider’s stock valued at $106,428,000 after buying an additional 1,033,040 shares during the period. Wells Fargo & Company MN raised its stake in Vmware by 163.9% in the first quarter. Wells Fargo & Company MN now owns 1,612,242 shares of the virtualization software provider’s stock valued at $148,552,000 after buying an additional 1,001,289 shares during the period. Janus Henderson Group PLC raised its stake in Vmware by 6,030.7% in the second quarter. Janus Henderson Group PLC now owns 806,433 shares of the virtualization software provider’s stock valued at $70,506,000 after buying an additional 793,279 shares during the period. Finally, Voya Investment Management LLC raised its stake in Vmware by 25.7% in the second quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock valued at $230,241,000 after buying an additional 538,393 shares during the period. 21.82% of the stock is currently owned by hedge funds and other institutional investors.

About Vmware

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).

Analyst Recommendations for Vmware (NYSE:VMW)

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