Jefferies Financial Group Increases VMware (NYSE:VMW) Price Target to $213.00

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VMware (NYSE:VMW) had its price target increased by Jefferies Financial Group from $203.00 to $213.00 in a research report sent to investors on Friday, May 31st, The Fly reports. They currently have a buy rating on the virtualization software provider’s stock.

A number of other research analysts have also recently weighed in on the stock. 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. Nomura set a $130.00 price objective on shares of VMware and gave the company a sell rating in a report on Friday, March 1st. Deutsche Bank lifted their price objective on shares of VMware from $200.00 to $215.00 and gave the company 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, Raymond James boosted their price target on shares of VMware from $163.00 to $196.00 and gave the stock an outperform 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, 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 value of $6,620,721.54. Following the completion of the sale, the chief operating officer now owns 181,243 shares in the company, valued at approximately $30,916,430.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $8,911,447.50. Following the completion of the sale, the chief financial officer now owns 191,199 shares of the company’s stock, valued at approximately $35,037,216.75. 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 institutional investors have recently made changes to their positions in VMW. Legal & General Group Plc raised its position in VMware by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 313,923 shares of the virtualization software provider’s stock worth $48,991,000 after buying an additional 12,693 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of 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 purchasing an additional 82,729 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of VMware by 4.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 29,521 shares of the virtualization software provider’s stock valued at $3,884,000 after purchasing an additional 1,350 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of VMware by 19.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,700 shares of the virtualization software provider’s stock valued at $1,193,000 after purchasing an additional 1,417 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of VMware by 21.1% in the 4th quarter. D.A. Davidson & CO. now owns 2,290 shares of the virtualization software provider’s stock valued at $314,000 after purchasing an additional 399 shares in the last quarter. 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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