Monness Crespi & Hardt Begins Coverage on VMware (VMW)

Monness Crespi & Hardt assumed coverage on shares of VMware (NYSE:VMW) in a research note published on Wednesday, reports. The firm issued a neutral rating on the virtualization software provider’s stock.

VMW has been the topic of several other research reports. Deutsche Bank upped their price objective on VMware from $145.00 to $175.00 and gave the company a buy rating in a research note on Monday, January 29th. Citigroup cut VMware from a buy rating to a neutral rating and set a $124.00 price objective on the stock. in a research note on Monday, February 5th. Zacks Investment Research upgraded VMware from a hold rating to a buy rating and set a $135.00 price objective on the stock in a research note on Wednesday, March 7th. Wells Fargo reaffirmed a market perform rating and set a $125.00 target price (up from $110.00) on shares of VMware in a report on Wednesday, February 28th. Finally, Nomura assumed coverage on VMware in a report on Tuesday, January 23rd. They set a reduce rating and a $108.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty have issued a buy rating to the stock. VMware currently has a consensus rating of Buy and an average target price of $131.42.

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Shares of NYSE VMW opened at $121.34 on Wednesday. VMware has a 52-week low of $85.45 and a 52-week high of $165.00. The company has a market cap of $49,054.75, a price-to-earnings ratio of 31.44, a PEG ratio of 2.19 and a beta of 0.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.73 and a current ratio of 2.73.

VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, March 1st. The virtualization software provider reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.06. VMware had a return on equity of 19.84% and a net margin of 7.18%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. VMware’s revenue for the quarter was up 13.6% compared to the same quarter last year. equities research analysts predict that VMware will post 4.53 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Global Trust Asset Management LLC bought a new position in VMware in the 4th quarter worth approximately $138,000. Prospera Financial Services Inc acquired a new stake in VMware in the fourth quarter worth approximately $209,000. Bank of Hawaii acquired a new stake in VMware in the fourth quarter worth approximately $202,000. Wedgewood Investors Inc. PA acquired a new stake in VMware in the fourth quarter worth approximately $207,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in VMware in the fourth quarter worth approximately $209,000. 22.44% 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).

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