Vmware, Inc. (NYSE:VMW)‘s stock had its “buy” rating reissued by equities research analysts at MKM Partners in a report released on Monday. They currently have a $120.00 target price on the virtualization software provider’s stock, up from their previous target price of $110.00. MKM Partners’ price target points to a potential upside of 14.36% from the company’s current price.

Several other brokerages have also recently commented on VMW. Stifel Nicolaus reiterated a “buy” rating and set a $118.00 price target (up previously from $109.00) on shares of Vmware in a research report on Friday, August 25th. Robert W. Baird reiterated a “buy” rating and set a $120.00 price target (up previously from $115.00) on shares of Vmware in a research report on Friday, August 25th. Bank of America Corporation upgraded shares of Vmware from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $108.00 to $120.00 in a research report on Friday, August 25th. Maxim Group restated a “hold” rating and set a $105.00 price objective on shares of Vmware in a report on Friday, August 25th. Finally, Drexel Hamilton restated a “buy” rating and set a $120.00 price objective (up previously from $113.00) on shares of Vmware in a report on Friday, August 25th. Sixteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $105.50.

Shares of Vmware (NYSE:VMW) opened at 104.93 on Monday. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 37.77 and a beta of 0.77. The firm has a 50-day moving average price of $93.36 and a 200-day moving average price of $91.99. Vmware has a one year low of $71.81 and a one year high of $105.48.

Vmware (NYSE:VMW) last issued its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Vmware had a net margin of 17.81% and a return on equity of 18.34%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $0.97 EPS. Vmware’s revenue was up 12.2% on a year-over-year basis. Analysts anticipate that Vmware will post $5.05 earnings per share for the current fiscal year.

Vmware announced that its board has initiated a stock buyback program on Monday, August 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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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.

Several institutional investors have recently modified their holdings of VMW. Advantage Investment Management LLC bought a new position in shares of Vmware during the first quarter valued at $139,000. Oppenheimer Asset Management Inc. bought a new position in shares of Vmware during the first quarter valued at $141,000. Penserra Capital Management LLC raised its position in shares of Vmware by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock valued at $169,000 after buying an additional 160 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Vmware during the second quarter valued at $191,000. Finally, Eagle Global Advisors LLC bought a new position in shares of Vmware during the second quarter valued at $203,000. 21.80% of the stock is currently owned by 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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