VMware (VMW) Trading Down 5.3% on Analyst Downgrade
VMware, Inc. (NYSE:VMW) was down 5.3% on Friday after Hilliard Lyons downgraded the stock from a buy rating to a neutral rating. The stock traded as low as $122.00 and last traded at $117.05. Approximately 5,545,309 shares were traded during trading, an increase of 60% from the average daily volume of 3,473,906 shares. The stock had previously closed at $123.66.
Several other equities research analysts also recently weighed in on VMW. Drexel Hamilton reiterated a “buy” rating and set a $120.00 target price on shares of VMware in a research note on Thursday, November 2nd. Barclays increased their target price on shares of VMware from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, November 6th. Mizuho reiterated a “hold” rating and set a $110.00 target price on shares of VMware in a research note on Friday, November 17th. BMO Capital Markets reiterated a “market perform” rating and set a $136.00 target price (up previously from $114.00) on shares of VMware in a research note on Monday, November 27th. Finally, Bank of America increased their target price on shares of 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 assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $130.96.
In other VMware news, EVP Maurizio Carli sold 2,581 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $129.88, for a total value of $335,220.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sanjay Poonen sold 2,764 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $118.50, for a total transaction of $327,534.00. Following the completion of the transaction, the chief operating officer now directly owns 189,391 shares of the company’s stock, valued at $22,442,833.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,726 shares of company stock valued at $4,774,927. 34.40% of the stock is currently owned by corporate insiders.
The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.51. The firm has a market capitalization 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.
VMware (NYSE:VMW) last issued its quarterly earnings data on Thursday, March 1st. The virtualization software provider reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.06. VMware had a net margin of 7.18% and a return on equity of 19.52%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the company posted $1.43 EPS. The company’s revenue was up 13.6% on a year-over-year basis. equities analysts anticipate that VMware, Inc. will post 4.11 EPS for the current fiscal year.
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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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