VMware (NYSE:VMW) was upgraded by equities researchers at Cowen from a “market perform” rating to an “outperform” rating in a report issued on Thursday.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of VMware from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Barclays reaffirmed a “buy” rating on shares of VMware in a research note on Friday, November 10th. KeyCorp raised shares of VMware from a “sector weight” rating to an “overweight” rating and set a $142.00 target price for the company in a research note on Monday, December 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $152.00 target price (up previously from $150.00) on shares of VMware in a research note on Monday, November 27th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $120.00 target price on shares of VMware in a research note on Thursday, November 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $125.20.
Shares of VMware (VMW) traded down $0.74 during midday trading on Thursday, hitting $132.53. 1,185,700 shares of the company’s stock were exchanged, compared to its average volume of 2,040,000. VMware has a fifty-two week low of $80.90 and a fifty-two week high of $133.33. The company has a market capitalization of $53,430.00, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.51.
VMware (NYSE:VMW) last announced its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.07. VMware had a net margin of 18.97% and a return on equity of 18.57%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. research analysts forecast that VMware will post 3.77 earnings per share for the current year.
In related news, COO Rajiv Ramaswami sold 9,747 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $118.16, for a total value of $1,151,705.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Egon Durban sold 435,682 shares of VMware stock in a transaction on Wednesday, November 1st. The stock was 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. Insiders sold 484,155 shares of company stock worth $53,551,032 in the last 90 days. 34.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Sapphire Star Partners LP boosted its stake in shares of VMware by 20.0% during the 3rd quarter. Sapphire Star Partners LP now owns 2,880 shares of the virtualization software provider’s stock worth $314,000 after acquiring an additional 480 shares during the last quarter. BP PLC purchased a new position in shares of VMware during the 3rd quarter worth $928,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of VMware during the 2nd quarter worth $1,121,000. Stifel Financial Corp boosted its stake in shares of VMware by 3.1% during the 3rd quarter. Stifel Financial Corp now owns 93,216 shares of the virtualization software provider’s stock worth $10,206,000 after acquiring an additional 2,777 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in shares of VMware by 82.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 67,155 shares of the virtualization software provider’s stock worth $7,333,000 after acquiring an additional 30,375 shares during the last quarter. Institutional investors and hedge funds own 22.53% of the company’s stock.
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VMware Company Profile
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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