Citigroup Inc. Increases Vmware, Inc. (NYSE:VMW) Price Target to $124.00
Vmware, Inc. (NYSE:VMW) had its price target lifted by Citigroup Inc. from $120.00 to $124.00 in a report released on Friday. Citigroup Inc. currently has a buy rating on the virtualization software provider’s stock.
Several other equities research analysts also recently weighed in on VMW. BTIG Research started coverage on Vmware in a report on Monday, April 17th. They set a neutral rating on the stock. Cowen and Company upped their price target on Vmware from $92.00 to $98.00 and gave the stock an outperform rating in a report on Thursday, May 25th. Zacks Investment Research downgraded Vmware from a buy rating to a hold rating in a report on Tuesday, May 30th. Robert W. Baird upgraded Vmware from a neutral rating to an outperform rating and upped their price target for the stock from $90.00 to $115.00 in a report on Wednesday, May 31st. Finally, Royal Bank Of Canada upped their price target on Vmware from $97.00 to $110.00 and gave the stock an outperform rating in a report on Wednesday, May 31st. Seventeen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $98.92.
Shares of Vmware (VMW) traded down 0.05% during midday trading on Friday, reaching $91.95. The company had a trading volume of 1,034,076 shares. The company’s 50 day moving average price is $90.67 and its 200-day moving average price is $91.18. Vmware has a 52 week low of $70.32 and a 52 week high of $98.00. The company has a market capitalization of $37.55 billion, a P/E ratio of 33.10 and a beta of 0.77.
Vmware (NYSE:VMW) last posted its quarterly earnings data on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. Vmware had a return on equity of 17.19% and a net margin of 17.36%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, equities research analysts predict that Vmware will post $4.94 earnings per share for the current fiscal year.
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In other news, EVP Maurizio Carli sold 11,237 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rajiv Ramaswami sold 20,457 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $87.84, for a total value of $1,796,942.88. Following the transaction, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Vmware by 56.9% in the first quarter. Nationwide Fund Advisors now owns 313,760 shares of the virtualization software provider’s stock worth $28,910,000 after buying an additional 113,760 shares during the period. CAPROCK Group Inc. increased its position in shares of Vmware by 4.6% in the first quarter. CAPROCK Group Inc. now owns 3,094 shares of the virtualization software provider’s stock worth $285,000 after buying an additional 135 shares during the period. Candriam Luxembourg S.C.A. increased its position in shares of Vmware by 12.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 61,379 shares of the virtualization software provider’s stock worth $5,656,000 after buying an additional 6,670 shares during the period. V Wealth Management LLC increased its position in shares of Vmware by 14.8% in the first quarter. V Wealth Management LLC now owns 15,700 shares of the virtualization software provider’s stock worth $1,446,000 after buying an additional 2,025 shares during the period. Finally, Navellier & Associates Inc acquired a new position in shares of Vmware during the first quarter worth about $5,209,000. 21.86% of the stock is owned by institutional investors and hedge funds.
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).
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