Vmware (NYSE:VMW) had its price target raised by analysts at Maxim Group from $113.00 to $123.00 in a note issued to investors on Friday. Maxim Group’s price target suggests a potential upside of 2.41% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of Vmware from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Mizuho restated a “hold” rating and issued a $110.00 price objective on shares of Vmware in a research report on Thursday. BMO Capital Markets upgraded shares of Vmware from a “market perform” rating to an “outperform” rating and set a $142.00 price objective on the stock in a research report on Friday. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Vmware in a research report on Friday. Finally, Citigroup boosted their price objective on shares of Vmware to $145.00 and gave the company a “buy” rating in a research report on Friday. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $122.52.

Shares of Vmware (NYSE:VMW) traded up $0.69 during trading hours on Friday, reaching $120.11. 4,418,600 shares of the company were exchanged, compared to its average volume of 1,584,219. The stock has a market cap of $52,165.21, a PE ratio of 35.87, a PEG ratio of 2.92 and a beta of 0.67. Vmware has a one year low of $76.81 and a one year high of $127.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.98 and a current ratio of 1.98.

Vmware (NYSE:VMW) last issued its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. equities research analysts predict that Vmware will post 3.79 EPS for the current fiscal year.

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

In other news, COO Sanjay Poonen sold 1,134 shares of the business’s 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 transaction, the chief operating officer now directly owns 192,774 shares of the company’s stock, valued at $20,532,358.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total transaction of $47,624,399.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,563 shares of company stock worth $48,896,887. Insiders own 34.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in VMW. Bronfman E.L. Rothschild L.P. increased its holdings in Vmware by 1,643.8% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after buying an additional 1,200 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Vmware by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after purchasing an additional 240 shares in the last quarter. Enterprise Financial Services Corp increased its stake in shares of Vmware by 3,975.6% in the third quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock worth $182,000 after purchasing an additional 1,630 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Vmware in the second quarter worth $191,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Vmware in the second quarter worth $203,000. 22.21% of the stock is owned by institutional investors and hedge funds.

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About Vmware

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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