Vmware, Inc. (VMW) Rating Reiterated by MKM Partners
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.
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.
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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