Vmware, Inc. (NYSE:VMW)‘s stock had its “outperform” rating reiterated by equities research analysts at RBC Capital Markets in a research report issued to clients and investors on Sunday. They presently have a $97.00 target price on the virtualization software provider’s stock, up from their previous target price of $90.00. RBC Capital Markets’ target price points to a potential upside of 11.29% from the stock’s current price.
VMW has been the topic of several other research reports. Zacks Investment Research upgraded shares of Vmware from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, November 1st. William Blair restated an “outperform” rating on shares of Vmware in a report on Tuesday, January 17th. OTR Global upgraded shares of Vmware from a “reduce” rating to a “neutral” rating in a report on Thursday, January 12th. Pacific Crest restated an “equal weight” rating on shares of Vmware in a report on Monday, October 17th. Finally, Jefferies Group LLC upped their price objective on shares of Vmware from $89.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.43.
Shares of Vmware (NYSE:VMW) traded up 3.49% on Friday, hitting $87.16. 5,697,066 shares of the stock were exchanged. The stock’s 50-day moving average is $81.44 and its 200-day moving average is $75.71. Vmware has a 1-year low of $43.25 and a 1-year high of $89.50. The stock has a market cap of $35.59 billion, a price-to-earnings ratio of 31.35 and a beta of 0.99.
Vmware (NYSE:VMW) last issued its earnings results on Thursday, January 26th. The virtualization software provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 16.72% and a return on equity of 16.31%. Vmware’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. Analysts forecast that Vmware will post $4.86 earnings per share for the current year.
In related news, EVP Maurizio Carli sold 12,650 shares of the company’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $81.14, for a total value of $1,026,421.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.
A number of institutional investors have recently made changes to their positions in VMW. Russell Investments Group Ltd. acquired a new position in shares of Vmware during the fourth quarter worth $27,612,000. NN Investment Partners Holdings N.V. raised its position in shares of Vmware by 100.8% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 410,710 shares of the virtualization software provider’s stock worth $32,335,000 after buying an additional 206,136 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Vmware during the third quarter worth $1,012,000. Orbis Allan Gray Ltd acquired a new position in shares of Vmware during the third quarter worth $79,048,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Vmware during the third quarter worth $26,417,000. Institutional investors own 21.11% of the company’s stock.
Vmware Company Profile
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).