Oppenheimer Holdings, Inc. reiterated their buy rating on shares of Vmware, Inc. (NYSE:VMW) in a report released on Tuesday morning.

Other research analysts have also recently issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $110.00 target price (up from $105.00) on shares of Vmware in a report on Saturday, June 3rd. MKM Partners reaffirmed a buy rating and issued a $110.00 target price (up from $100.00) on shares of Vmware in a report on Thursday, June 1st. Drexel Hamilton reaffirmed a buy rating and issued a $113.00 target price (up from $105.00) on shares of Vmware in a report on Monday, June 5th. BidaskClub cut shares of Vmware from a strong-buy rating to a buy rating in a report on Saturday, June 10th. Finally, Stifel Nicolaus raised shares of Vmware from a hold rating to a buy rating and lifted their target price for the stock from $96.00 to $109.00 in a report on Wednesday, June 21st. Sixteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Vmware has a consensus rating of Buy and an average price target of $106.24.

Shares of Vmware (NYSE:VMW) opened at 108.10 on Tuesday. The stock has a market cap of $44.28 billion, a price-to-earnings ratio of 38.91 and a beta of 0.77. The firm has a 50-day moving average of $95.32 and a 200 day moving average of $92.46. Vmware has a 1-year low of $71.81 and a 1-year high of $108.33.

Vmware (NYSE:VMW) last issued its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.34%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. Equities research analysts forecast that Vmware will post $5.06 earnings per share for the current year.

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Vmware declared that its Board of Directors has authorized a share buyback program on Monday, August 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the virtualization software provider to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, EVP Maurizio Carli sold 11,237 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $94.66, for a total transaction of $1,063,694.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Advantage Investment Management LLC bought a new position in shares of Vmware during the first quarter worth $139,000. Oppenheimer Asset Management Inc. bought a new position in shares of Vmware during the first quarter worth $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 worth $169,000 after buying an additional 160 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Vmware during the second quarter worth $191,000. Finally, Eagle Global Advisors LLC bought a new position in shares of Vmware during the second quarter worth $203,000. Hedge funds and other institutional investors own 21.80% of the company’s stock.

Vmware Company Profile

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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