VMware’s (NYSE:VMW) “Buy” Rating Reaffirmed at Cowen

Cowen reaffirmed their buy rating on shares of VMware (NYSE:VMW) in a report issued on Monday, January 29th. The brokerage currently has a $160.00 target price on the virtualization software provider’s stock, up from their previous target price of $150.00.

Other analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $152.00 price objective (up previously from $150.00) on shares of VMware in a research note on Monday, November 27th. Bank of America increased their price target on shares of VMware from $125.00 to $148.00 and gave the stock a buy rating in a report on Monday, November 27th. Barclays reissued a buy rating on shares of VMware in a report on Friday, November 10th. Robert W. Baird reaffirmed a buy rating and set a $125.00 price objective on shares of VMware in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of VMware from a hold rating to a buy rating and set a $134.00 price objective on the stock in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $130.00.

Shares of VMware (NYSE VMW) opened at $116.58 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.86 and a quick ratio of 2.86. The firm has a market cap of $47,000.00, a P/E ratio of 33.31, a PEG ratio of 2.35 and a beta of 0.81. VMware has a 52-week low of $85.45 and a 52-week high of $165.00.

VMware (NYSE:VMW) last posted its quarterly earnings data on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, topping the 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 firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $1.14 EPS. VMware’s revenue was up 11.1% on a year-over-year basis. research analysts expect that VMware will post 3.77 earnings per share for the current fiscal year.

In related news, COO Sanjay Poonen sold 2,764 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $118.50, for a total value of $327,534.00. Following the sale, the chief operating officer now directly owns 189,391 shares in the company, valued at approximately $22,442,833.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Rangarajan (Raghu) Raghuram sold 23,381 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $120.40, for a total transaction of $2,815,072.40. The disclosure for this sale can be found here. Insiders sold a total of 38,726 shares of company stock worth $4,774,927 over the last three months. 34.40% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC purchased a new position in VMware in the 4th quarter valued at about $138,000. Bronfman E.L. Rothschild L.P. lifted its holdings in VMware by 1,643.8% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after purchasing an additional 1,200 shares in the last quarter. Enterprise Financial Services Corp increased its stake in shares of VMware by 3,975.6% during the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after acquiring an additional 1,630 shares during the last quarter. Bank of Hawaii acquired a new position in shares of VMware during the 4th quarter valued at about $202,000. Finally, Cadence Capital Management LLC acquired a new position in shares of VMware during the 3rd quarter valued at about $204,000. Institutional investors own 21.86% 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).

Analyst Recommendations for VMware (NYSE:VMW)

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