Wedbush Reiterates Buy Rating for VMware (NYSE:VMW)

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Wedbush reaffirmed their buy rating on shares of VMware (NYSE:VMW) in a research report sent to investors on Friday, May 31st, AnalystRatings.com reports. They currently have a $210.00 price target on the virtualization software provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of VMware from a hold rating to a buy rating and set a $228.00 price objective for the company in a report on Monday, May 6th. KeyCorp lifted their price objective on shares of VMware from $172.00 to $192.00 and gave the company an overweight rating in a report on Friday, March 1st. Deutsche Bank lifted their price objective on shares of VMware from $190.00 to $200.00 and gave the company a buy rating in a report on Friday, March 1st. Morgan Stanley lifted their price objective on shares of VMware from $152.00 to $192.00 and gave the company an equal weight rating in a report on Wednesday, May 29th. Finally, Barclays lifted their price objective on shares of VMware from $168.00 to $200.00 and gave the company an overweight rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $192.23.

Shares of VMW stock opened at $169.23 on Friday. The stock has a market cap of $69.46 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.61 and a beta of 0.90. VMware has a 12 month low of $129.33 and a 12 month high of $206.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.70.

VMware (NYSE:VMW) last released its quarterly earnings results on Thursday, May 30th. The virtualization software provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.42. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.25 billion. VMware had a net margin of 21.50% and a return on equity of 28.06%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. On average, research analysts anticipate that VMware will post 4.87 EPS for the current fiscal year.

In related news, VP Amy Fliegelman Olli sold 1,723 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $178.98, for a total value of $308,382.54. Following the completion of the sale, the vice president now owns 34,332 shares in the company, valued at approximately $6,144,741.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Rajiv Ramaswami sold 38,813 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $170.58, for a total transaction of $6,620,721.54. Following the completion of the sale, the chief operating officer now owns 181,243 shares of the company’s stock, valued at approximately $30,916,430.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 297,312 shares of company stock valued at $54,821,456. Company insiders own 28.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC purchased a new position in shares of VMware in the 1st quarter valued at about $54,000. Marshall Wace LLP increased its holdings in shares of VMware by 169.3% in the 1st quarter. Marshall Wace LLP now owns 52,477 shares of the virtualization software provider’s stock valued at $9,472,000 after purchasing an additional 32,993 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of VMware by 3.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,149,355 shares of the virtualization software provider’s stock valued at $387,980,000 after purchasing an additional 67,177 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of VMware by 18.8% in the 1st quarter. Nordea Investment Management AB now owns 499,169 shares of the virtualization software provider’s stock valued at $90,104,000 after purchasing an additional 79,085 shares in the last quarter. Finally, Ameritas Investment Corp purchased a new position in shares of VMware in the 1st quarter valued at about $93,000. Hedge funds and other institutional investors own 17.90% of the company’s stock.

VMware Company Profile

VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces 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; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.

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Analyst Recommendations for VMware (NYSE:VMW)

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