VMware (NYSE:VMW) had its price objective boosted by equities research analysts at Oppenheimer from $135.00 to $165.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the virtualization software provider’s stock. Oppenheimer’s target price points to a potential upside of 18.97% from the company’s previous close.
A number of other analysts also recently issued reports on VMW. Credit Suisse Group raised their target price on VMware from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday. Zacks Investment Research downgraded VMware from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 4th. Stifel Nicolaus downgraded VMware from a “buy” rating to a “hold” rating and cut their target price for the stock from $152.00 to $135.00 in a research note on Friday, March 2nd. Hilliard Lyons downgraded VMware from a “buy” rating to a “neutral” rating in a research note on Friday, March 2nd. Finally, BMO Capital Markets cut their target price on VMware from $142.00 to $138.00 and set an “outperform” rating for the company in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the company. VMware has a consensus rating of “Buy” and a consensus price target of $133.54.
Shares of VMware opened at $138.69 on Tuesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $56.12 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.50 and a beta of 0.74. VMware has a fifty-two week low of $85.45 and a fifty-two week high of $165.00.
VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, March 1st. The virtualization software provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. VMware had a return on equity of 19.84% and a net margin of 7.18%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. sell-side analysts expect that VMware will post 4.53 EPS for the current year.
In related news, COO Rajiv Ramaswami sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $132.85, for a total transaction of $1,328,500.00. Following the completion of the sale, the chief operating officer now directly owns 307,763 shares of the company’s stock, valued at approximately $40,886,314.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.40% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of VMW. Coatue Management LLC acquired a new stake in shares of VMware during the 4th quarter worth about $156,584,000. Jericho Capital Asset Management L.P. increased its position in shares of VMware by 59.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 1,823,078 shares of the virtualization software provider’s stock worth $221,085,000 after purchasing an additional 680,798 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of VMware by 3,351.4% during the 4th quarter. Allianz Asset Management GmbH now owns 541,010 shares of the virtualization software provider’s stock worth $67,799,000 after purchasing an additional 525,335 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of VMware by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,656,100 shares of the virtualization software provider’s stock worth $332,862,000 after purchasing an additional 441,500 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of VMware by 4,589.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 415,050 shares of the virtualization software provider’s stock worth $52,014,000 after purchasing an additional 406,200 shares during the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.
VMware Company Profile
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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