VMware (NYSE:VMW) PT Raised to $206.00 at Raymond James

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VMware (NYSE:VMW) had its target price boosted by stock analysts at Raymond James from $196.00 to $206.00 in a research report issued to clients and investors on Friday, May 31st, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the virtualization software provider’s stock. Raymond James’ target price would suggest a potential upside of 21.73% from the stock’s previous close.

Several other research analysts have also recently commented on VMW. KeyCorp boosted their price target on shares of VMware from $172.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Nomura set a $130.00 price target on shares of VMware and gave the stock a “sell” rating in a report on Friday, March 1st. Deutsche Bank boosted their price target on shares of VMware from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Mizuho initiated coverage on shares of VMware in a report on Wednesday, March 13th. They set a “neutral” rating and a $160.00 price target for the company. Finally, Citigroup boosted their price target on shares of VMware from $166.00 to $201.00 and gave the stock a “buy” 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.

VMware stock opened at $169.23 on Friday. The company has a market capitalization of $69.46 billion, a PE ratio of 34.33, a P/E/G ratio of 2.61 and a beta of 0.90. VMware has a 1 year low of $129.33 and a 1 year 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 forecast that VMware will post 4.87 EPS for the current year.

In related news, CFO Zane Rowe sold 48,630 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $183.25, for a total value of $8,911,447.50. Following the completion of the sale, the chief financial officer now owns 191,199 shares in the company, valued at approximately $35,037,216.75. 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 stock was sold at an average price of $170.58, for a total transaction of $6,620,721.54. Following the transaction, 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 quarter, insiders sold 297,312 shares of company stock valued at $54,821,456. 28.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc grew its stake in VMware by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 4,387,621 shares of the virtualization software provider’s stock valued at $684,732,000 after acquiring an additional 82,729 shares during the last quarter. Investec Asset Management LTD grew its stake in VMware by 1.9% in the 4th quarter. Investec Asset Management LTD now owns 2,433,549 shares of the virtualization software provider’s stock valued at $333,713,000 after acquiring an additional 45,534 shares during the last quarter. Wellington Management Group LLP grew its stake in VMware by 441.6% in the 1st quarter. Wellington Management Group LLP now owns 2,203,110 shares of the virtualization software provider’s stock valued at $397,683,000 after acquiring an additional 1,796,348 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of VMware by 3.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,149,355 shares of the virtualization software provider’s stock worth $387,980,000 after purchasing an additional 67,177 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of VMware by 13.4% during the 1st quarter. AQR Capital Management LLC now owns 1,126,913 shares of the virtualization software provider’s stock worth $201,154,000 after purchasing an additional 133,534 shares during the last quarter. 17.90% of the stock is currently owned by hedge funds and other institutional investors.

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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