Investment analysts at Berenberg Bank initiated coverage on shares of VMware, Inc. (NYSE:VMW) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating and a $94.00 price target on the virtualization software provider’s stock. Berenberg Bank’s target price would suggest a potential upside of 2.39% from the company’s current price.
A number of other brokerages have also weighed in on VMW. Instinet increased their price objective on VMware from $68.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, January 27th. OTR Global raised VMware from a “reduce” rating to a “neutral” rating in a report on Thursday, January 12th. Morgan Stanley increased their price objective on VMware from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 27th. William Blair reissued an “outperform” rating on shares of VMware in a report on Tuesday, January 17th. Finally, Pacific Crest reissued an “equal weight” rating on shares of VMware in a report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $86.39.
Shares of VMware (NYSE:VMW) traded up 0.11% during trading on Tuesday, hitting $91.91. The stock had a trading volume of 404,100 shares. VMware has a 12 month low of $51.23 and a 12 month high of $93.05. The stock has a 50-day moving average price of $91.15 and a 200 day moving average price of $83.56. The company has a market cap of $37.56 billion, a P/E ratio of 33.08 and a beta of 0.97.
VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, January 26th. The virtualization software provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. VMware had a return on equity of 16.31% and a net margin of 16.72%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 earnings per share. Equities analysts expect that VMware will post $4.91 EPS for the current fiscal year.
In other VMware news, COO Sanjay Poonen sold 1,889 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $89.04, for a total transaction of $168,196.56. Following the completion of the sale, the chief operating officer now owns 182,569 shares of the company’s stock, valued at $16,255,943.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in VMware by 34.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,887 shares of the virtualization software provider’s stock valued at $149,000 after buying an additional 483 shares during the period. Envestnet Asset Management Inc. boosted its stake in VMware by 7.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,452 shares of the virtualization software provider’s stock valued at $193,000 after buying an additional 168 shares during the period. Orinda Asset Management LLC acquired a new stake in VMware during the third quarter valued at about $197,000. VNBTrust National Association acquired a new stake in VMware during the first quarter valued at about $203,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in VMware during the fourth quarter valued at about $253,000. 21.88% of the stock is owned by institutional investors.
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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