Jefferies Group Boosts VMware Inc. (VMW) Price Target to $89.00

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VMware Inc. (NYSE:VMW) had its price target raised by analysts at Jefferies Group from $84.00 to $89.00 in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the virtualization software provider’s stock. Jefferies Group’s target price would suggest a potential upside of 21.78% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Drexel Hamilton reiterated a “buy” rating and set a $77.00 target price on shares of VMware in a report on Tuesday, May 17th. Vetr downgraded VMware from a “strong-buy” rating to a “buy” rating and set a $63.40 target price on the stock. in a report on Monday, May 16th. TheStreet upgraded VMware to a “buy” rating in a report on Thursday, May 26th. MKM Partners reiterated a “buy” rating and set a $80.00 target price (up from $70.00) on shares of VMware in a report on Tuesday, July 12th. Finally, Zacks Investment Research upgraded VMware from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Saturday, July 23rd. One analyst has rated the stock with a sell rating, twenty-six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. VMware currently has a consensus rating of “Hold” and a consensus price target of $77.54.
VMware (NYSE:VMW) opened at 73.08 on Monday. The firm has a market capitalization of $31.02 billion, a P/E ratio of 29.44 and a beta of 1.30. VMware has a one year low of $43.25 and a one year high of $82.35. The company has a 50-day moving average price of $72.49 and a 200-day moving average price of $60.39.

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VMware (NYSE:VMW) last released its quarterly earnings data on Monday, July 18th. The virtualization software provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. VMware had a return on equity of 15.66% and a net margin of 15.47%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $0.93 EPS. On average, equities research analysts anticipate that VMware will post $4.29 EPS for the current year.
In related news, VP S. Dawn Smith sold 977 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $73.59, for a total transaction of $71,897.43. Following the sale, the vice president now owns 54,653 shares of the company’s stock, valued at approximately $4,021,914.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider P. Kevan Krysler sold 6,988 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $72.40, for a total value of $505,931.20. Following the sale, the insider now directly owns 78,654 shares in the company, valued at approximately $5,694,549.60. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Hedge funds recently modified their holdings of the company. Dodge & Cox increased its stake in VMware by 227.2% in the first quarter. Dodge & Cox now owns 9,164,491 shares of the virtualization software provider’s stock valued at $479,395,000 after buying an additional 6,363,556 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of VMware by 76.3% in the first quarter. Renaissance Technologies LLC now owns 2,285,300 shares of the virtualization software provider’s stock valued at $119,544,000 after buying an additional 989,100 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of VMware by 18.6% in the first quarter. Primecap Management Co. CA now owns 1,780,187 shares of the virtualization software provider’s stock valued at $93,122,000 after buying an additional 278,643 shares during the last quarter. State Street Corp boosted its position in shares of VMware by 3.1% in the first quarter. State Street Corp now owns 1,663,142 shares of the virtualization software provider’s stock valued at $86,996,000 after buying an additional 49,469 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of VMware by 4.8% in the first quarter. Glenmede Trust Co. NA now owns 1,271,894 shares of the virtualization software provider’s stock valued at $66,531,000 after buying an additional 57,828 shares during the last quarter. 22.12% of the stock is currently owned by institutional investors and hedge funds.
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).

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