VMware’s (VMW) “Outperform” Rating Reiterated at Robert W. Baird
VMware (NYSE:VMW)‘s stock had its “outperform” rating reaffirmed by investment analysts at Robert W. Baird in a research report issued on Friday. They currently have a $140.00 price target on the virtualization software provider’s stock, up from their previous price target of $135.00. Robert W. Baird’s target price indicates a potential upside of 20.34% from the company’s current price.
A number of other research analysts also recently issued reports on VMW. Drexel Hamilton reissued a “buy” rating and issued a $120.00 price objective on shares of VMware in a research note on Thursday, November 2nd. Barclays upped their price target on VMware from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, November 6th. Mizuho reaffirmed a “hold” rating and set a $110.00 price target on shares of VMware in a research note on Friday, November 17th. BMO Capital Markets reaffirmed a “market perform” rating and set a $136.00 price target (up from $114.00) on shares of VMware in a research note on Monday, November 27th. Finally, Bank of America upped their price target on VMware from $125.00 to $148.00 and gave the stock a “buy” rating in a research note on Monday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $130.96.
Shares of VMware (VMW) traded down $7.32 during trading hours on Friday, hitting $116.34. The stock had a trading volume of 8,094,726 shares, compared to its average volume of 4,190,000. The firm has a market cap of $46,900.00, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.86 and a quick ratio of 2.86. VMware has a 12 month low of $85.45 and a 12 month high of $165.00.
In other VMware news, EVP Maurizio Carli sold 2,581 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $129.88, for a total transaction of $335,220.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sanjay Poonen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $129.71, for a total value of $1,297,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,726 shares of company stock valued at $4,774,927 over the last three months. Corporate insiders own 34.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in VMW. Coatue Management LLC bought a new position in shares of VMware in the fourth quarter valued at approximately $156,584,000. Allianz Asset Management GmbH grew its holdings in shares of VMware by 3,351.4% in the fourth quarter. Allianz Asset Management GmbH now owns 541,010 shares of the virtualization software provider’s stock valued at $67,799,000 after acquiring an additional 525,335 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of VMware by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,656,100 shares of the virtualization software provider’s stock valued at $332,862,000 after acquiring an additional 441,500 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of VMware by 4,589.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 415,050 shares of the virtualization software provider’s stock valued at $52,014,000 after acquiring an additional 406,200 shares in the last quarter. Finally, Fred Alger Management Inc. grew its holdings in shares of VMware by 54,509.5% in the fourth quarter. Fred Alger Management Inc. now owns 356,054 shares of the virtualization software provider’s stock valued at $44,621,000 after acquiring an additional 355,402 shares in the last quarter. 21.60% of the stock is owned by institutional investors.
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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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