VMware Inc. (VMW) Rating Reiterated by Morgan Stanley
VMware Inc. (NYSE:VMW)‘s stock had its “buy” rating restated by research analysts at Morgan Stanley in a research note issued to investors on Monday. They presently have a $86.00 price target on the virtualization software provider’s stock. Morgan Stanley’s price objective points to a potential upside of 16.85% from the company’s current price.
Several other research firms also recently weighed in on VMW. SunTrust Banks Inc. raised shares of VMware from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $64.00 to $92.00 in a research report on Tuesday, August 30th. Robert W. Baird restated a “hold” rating on shares of VMware in a research note on Friday, September 9th. Pacific Crest restated a “sector perform” rating on shares of VMware in a research note on Monday, September 5th. Barclays PLC assumed coverage on shares of VMware in a research note on Tuesday, September 13th. They set an “equal weight” rating and a $82.00 price objective for the company. Finally, Goldman Sachs Group Inc. cut shares of VMware from a “buy” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, twenty-eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $77.49.
VMware (NYSE:VMW) opened at 73.60 on Monday. The company has a market cap of $31.24 billion, a P/E ratio of 29.65 and a beta of 1.30. The company’s 50-day moving average is $73.02 and its 200-day moving average is $62.59. VMware has a 12 month low of $43.25 and a 12 month high of $82.35.
VMware (NYSE:VMW) last released its earnings results on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.02. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. VMware had a net margin of 15.47% and a return on equity of 15.66%. VMware’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. On average, equities research analysts expect that VMware will post $4.29 EPS for the current fiscal year.
In other VMware news, insider P. Kevan Krysler sold 6,988 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total value of $505,931.20. Following the transaction, the insider now directly owns 78,654 shares in the company, valued at $5,694,549.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP S. Dawn Smith sold 977 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $73.59, for a total transaction of $71,897.43. Following the completion of the transaction, the vice president now owns 54,653 shares in the company, valued at $4,021,914.27. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Dodge & Cox raised its position in shares of VMware by 29.7% in the second quarter. Dodge & Cox now owns 11,890,635 shares of the virtualization software provider’s stock valued at $680,382,000 after buying an additional 2,726,144 shares in the last quarter. Vanguard Group Inc. raised its position in shares of VMware by 2.0% in the second quarter. Vanguard Group Inc. now owns 3,795,842 shares of the virtualization software provider’s stock valued at $217,198,000 after buying an additional 74,915 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of VMware by 76.3% in the first quarter. Renaissance Technologies LLC now owns 2,285,300 shares of the virtualization software provider’s stock valued at $119,544,000 after buying an additional 989,100 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of VMware by 1.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,079,388 shares of the virtualization software provider’s stock valued at $118,983,000 after buying an additional 30,977 shares in the last quarter. Finally, Paulson & CO. Inc. bought a new position in shares of VMware during the second quarter valued at approximately $112,844,000. Institutional investors own 22.06% of the company’s stock.
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).
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