Wall Street brokerages expect VMware, Inc. (NYSE:VMW) to report sales of $2.40 billion for the current quarter, according to Zacks. Eight analysts have made estimates for VMware’s earnings, with estimates ranging from $2.40 billion to $2.41 billion. VMware posted sales of $2.20 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The firm is scheduled to issue its next quarterly earnings report on Thursday, December 5th.

According to Zacks, analysts expect that VMware will report full year sales of $10.03 billion for the current year, with estimates ranging from $10.00 billion to $10.03 billion. For the next year, analysts forecast that the firm will report sales of $11.06 billion, with estimates ranging from $10.77 billion to $11.98 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for VMware.

VMware (NYSE:VMW) last released its quarterly earnings data on Thursday, August 22nd. The virtualization software provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.45. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. VMware had a net margin of 66.00% and a return on equity of 47.55%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 earnings per share.

Several research firms have recently issued reports on VMW. JPMorgan Chase & Co. reiterated a “buy” rating on shares of VMware in a research report on Wednesday, August 21st. Credit Suisse Group reduced their price target on shares of VMware from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. KeyCorp reduced their price target on shares of VMware from $214.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Monness Crespi & Hardt restated a “hold” rating on shares of VMware in a research report on Friday, August 23rd. Finally, Jefferies Financial Group set a $198.00 price target on shares of VMware and gave the stock a “buy” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $175.09.

In other news, CEO Patrick P. Gelsinger sold 20,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $180.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,214 shares of the company’s stock, valued at $80,138,520. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Amy Fliegelman Olli sold 2,753 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $150.00, for a total transaction of $412,950.00. Following the sale, the vice president now directly owns 38,728 shares of the company’s stock, valued at $5,809,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,120 shares of company stock valued at $10,678,437. 28.80% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in VMW. Treasurer of the State of North Carolina boosted its holdings in shares of VMware by 8.3% in the second quarter. Treasurer of the State of North Carolina now owns 49,784 shares of the virtualization software provider’s stock worth $8,324,000 after buying an additional 3,801 shares during the last quarter. BlackRock Inc. lifted its holdings in VMware by 7.7% during the second quarter. BlackRock Inc. now owns 4,444,800 shares of the virtualization software provider’s stock valued at $743,215,000 after purchasing an additional 319,201 shares in the last quarter. Barings LLC lifted its holdings in VMware by 66.0% during the second quarter. Barings LLC now owns 4,830 shares of the virtualization software provider’s stock valued at $808,000 after purchasing an additional 1,920 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in VMware by 13.1% during the second quarter. Chartwell Investment Partners LLC now owns 20,613 shares of the virtualization software provider’s stock valued at $3,447,000 after purchasing an additional 2,383 shares in the last quarter. Finally, Colony Group LLC lifted its holdings in VMware by 6.5% during the second quarter. Colony Group LLC now owns 3,753 shares of the virtualization software provider’s stock valued at $628,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 17.49% of the company’s stock.

Shares of VMware stock traded down $0.62 on Tuesday, hitting $153.42. 22,239 shares of the company traded hands, compared to its average volume of 2,299,117. The stock has a market capitalization of $63.03 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.39 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.97 and a current ratio of 0.96. VMware has a 52 week low of $128.69 and a 52 week high of $206.80. The business has a 50-day simple moving average of $152.93 and a 200 day simple moving average of $175.07.

About VMware

VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.

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