Vmware’s (VMW) “Buy” Rating Reiterated at Stifel Nicolaus
Vmware (NYSE:VMW)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a research report issued on Monday. They currently have a $152.00 target price on the virtualization software provider’s stock, up from their prior target price of $150.00. Stifel Nicolaus’ price objective would indicate a potential upside of 26.55% from the stock’s current price.
A number of other research analysts have also commented on the stock. Bank of America lifted their price objective on shares of Vmware from $125.00 to $148.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $136.00 target price (up previously from $114.00) on shares of Vmware in a report on Monday. Mizuho reaffirmed a “hold” rating and issued a $110.00 target price on shares of Vmware in a report on Friday, November 17th. Barclays reissued a “buy” rating on shares of Vmware in a report on Friday, November 10th. Finally, Drexel Hamilton reissued a “buy” rating and set a $120.00 price objective on shares of Vmware in a report on Thursday, November 2nd. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Vmware currently has an average rating of “Buy” and an average target price of $121.65.
Shares of Vmware (NYSE VMW) traded up $0.69 during trading hours on Monday, reaching $120.11. 4,418,600 shares of the company traded hands, compared to its average volume of 1,584,219. Vmware has a 12-month low of $76.81 and a 12-month high of $127.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market cap of $52,165.21, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.92 and a beta of 0.67.
Vmware (NYSE:VMW) last announced its quarterly earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.07. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business earned $1.14 EPS. Vmware’s revenue for the quarter was up 11.1% compared to the same quarter last year. research analysts anticipate that Vmware will post 3.79 EPS for the current fiscal year.
Vmware declared that its Board of Directors has authorized a stock repurchase plan on Monday, August 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 9,747 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $118.16, for a total transaction of $1,151,705.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Sanjay Poonen sold 1,134 shares of Vmware stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $106.51, for a total transaction of $120,782.34. Following the completion of the sale, the chief operating officer now owns 192,774 shares of the company’s stock, valued at $20,532,358.74. The disclosure for this sale can be found here. Insiders sold 446,563 shares of company stock valued at $48,896,887 over the last 90 days. Insiders own 34.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of Vmware by 1,643.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock worth $139,000 after buying an additional 1,200 shares in the last quarter. Penserra Capital Management LLC grew its position in Vmware by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after buying an additional 240 shares during the period. Enterprise Financial Services Corp grew its position in Vmware by 3,975.6% during the third quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock worth $182,000 after buying an additional 1,630 shares during the period. BlueMountain Capital Management LLC acquired a new position in Vmware during the second quarter worth about $191,000. Finally, Eagle Global Advisors LLC acquired a new stake in Vmware during the second quarter worth approximately $203,000. 22.21% 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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