VMware (NYSE:VMW) has been given a $212.00 price objective by equities research analysts at Citigroup in a research report issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the virtualization software provider’s stock. Citigroup‘s price objective suggests a potential upside of 47.04% from the company’s previous close.
Several other research analysts also recently weighed in on VMW. Jefferies Financial Group upped their price target on shares of VMware from $203.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Deutsche Bank reduced their price target on shares of VMware from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday. Wedbush restated an “outperform” rating on shares of VMware in a research report on Thursday, July 18th. Cleveland Research restated a “buy” rating on shares of VMware in a research report on Tuesday, May 28th. Finally, Maxim Group restated a “hold” rating on shares of VMware in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $189.36.
Shares of VMW stock traded up $0.46 during mid-day trading on Friday, hitting $144.18. 1,883,710 shares of the stock were exchanged, compared to its average volume of 1,298,079. The firm has a fifty day moving average of $167.84 and a 200 day moving average of $177.84. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 7.57. VMware has a 52-week low of $129.33 and a 52-week high of $206.80. The company has a market cap of $58.25 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81.
VMware (NYSE:VMW) last released its quarterly earnings results on Thursday, May 30th. The virtualization software provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.42. VMware had a net margin of 21.50% and a return on equity of 36.48%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts predict that VMware will post 4.87 EPS for the current year.
In other VMware news, COO Rajiv Ramaswami sold 38,813 shares of the stock in a transaction dated 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 this hyperlink. Also, CEO Patrick P. Gelsinger sold 20,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $180.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the chief executive officer now owns 445,214 shares of the company’s stock, valued at approximately $80,138,520. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,053 shares of company stock valued at $14,639,696. 28.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Neuburgh Advisers LLC grew its stake in shares of VMware by 44.6% in the 1st quarter. Neuburgh Advisers LLC now owns 18,560 shares of the virtualization software provider’s stock valued at $3,350,000 after buying an additional 5,728 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of VMware by 5.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 9,214 shares of the virtualization software provider’s stock worth $1,663,000 after purchasing an additional 514 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of VMware during the 2nd quarter worth approximately $126,000. Gulf International Bank UK Ltd boosted its position in shares of VMware by 0.9% during the 2nd quarter. Gulf International Bank UK Ltd now owns 18,622 shares of the virtualization software provider’s stock worth $3,113,000 after purchasing an additional 174 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of VMware by 47.4% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 7,736 shares of the virtualization software provider’s stock worth $1,398,000 after purchasing an additional 2,486 shares during the period. Institutional investors own 17.70% 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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