VMware (VMW) Coverage Initiated at Wedbush

Investment analysts at Wedbush began coverage on shares of VMware (NYSE:VMW) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $185.00 price target on the virtualization software provider’s stock. Wedbush’s price target would suggest a potential upside of 31.71% from the stock’s current price.

A number of other equities analysts have also weighed in on VMW. Royal Bank of Canada reissued a “buy” rating and set a $172.00 price objective on shares of VMware in a research note on Friday, July 6th. Wells Fargo & Co boosted their price objective on VMware from $135.00 to $155.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 10th. Zacks Investment Research lowered VMware from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Stifel Nicolaus boosted their price objective on VMware from $122.00 to $142.00 and gave the stock a “hold” rating in a research note on Friday, August 24th. Finally, Jefferies Financial Group boosted their price objective on VMware to $185.00 and gave the stock a “positive” rating in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $158.04.

Shares of NYSE:VMW opened at $140.46 on Thursday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $60.56 billion, a PE ratio of 36.39, a PEG ratio of 2.36 and a beta of 0.60. VMware has a 1 year low of $108.46 and a 1 year high of $165.00.

VMware (NYSE:VMW) last issued its quarterly earnings results on Thursday, August 23rd. The virtualization software provider reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. VMware had a return on equity of 20.00% and a net margin of 18.77%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. Research analysts anticipate that VMware will post 4.73 EPS for the current fiscal year.

In other VMware news, COO Rajiv Ramaswami sold 6,000 shares of VMware stock in a transaction on Friday, September 14th. The stock was sold at an average price of $160.00, for a total value of $960,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider P. Kevan Krysler sold 4,984 shares of VMware stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $152.28, for a total value of $758,963.52. The disclosure for this sale can be found here. Insiders sold 41,263 shares of company stock worth $6,327,817 in the last 90 days. Company insiders own 29.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its holdings in shares of VMware by 217.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,000 shares of the virtualization software provider’s stock valued at $147,000 after buying an additional 685 shares during the period. Signet Financial Management LLC purchased a new stake in shares of VMware in the 2nd quarter valued at $151,000. Hilltop Holdings Inc. purchased a new stake in shares of VMware in the 2nd quarter valued at $204,000. Physicians Financial Services Inc. purchased a new stake in shares of VMware in the 2nd quarter valued at $206,000. Finally, Dowling & Yahnke LLC purchased a new stake in shares of VMware in the 2nd quarter valued at $214,000. Hedge funds and other institutional investors own 20.02% of the company’s stock.

VMware Company Profile

VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses 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; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.

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