VMware Inc. (VMW) Raised to Strong-Buy at Vetr Inc.

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VMware Inc. (NYSE:VMW) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage currently has a $81.86 price target on the virtualization software provider’s stock. Vetr‘s target price suggests a potential upside of 12.01% from the company’s current price.
VMW has been the subject of several other reports. Goldman Sachs Group Inc. cut shares of VMware from a “buy” rating to a “neutral” rating and set a $81.00 target price for the company. in a report on Wednesday. SunTrust Banks Inc. raised shares of VMware from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $64.00 to $92.00 in a report on Tuesday, August 30th. Zacks Investment Research raised shares of VMware from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Saturday, July 23rd. Jefferies Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of VMware in a report on Wednesday, July 6th. Finally, Mizuho reiterated a “neutral” rating and issued a $66.00 price target (up from $61.00) on shares of VMware in a research note on Thursday, September 1st. One analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $77.40.
VMware (NYSE:VMW) traded down 1.69% during mid-day trading on Wednesday, reaching $73.08. 4,356,964 shares of the company’s stock traded hands. VMware has a 12-month low of $43.25 and a 12-month high of $82.35. The stock has a 50 day moving average of $72.49 and a 200 day moving average of $60.39. The company has a market cap of $31.02 billion, a P/E ratio of 29.44 and a beta of 1.30.

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VMware (NYSE:VMW) last issued its earnings results on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. The business earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. VMware had a net margin of 15.47% and a return on equity of 15.66%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. On average, equities research analysts predict that VMware will post $4.29 earnings per share for the current fiscal year.
In related news, VP S. Dawn Smith sold 632 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.40, for a total value of $48,284.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider P. Kevan Krysler sold 6,988 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total transaction of $505,931.20. Following the completion of the transaction, the insider now directly owns 78,654 shares of the company’s stock, valued at $5,694,549.60. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Other institutional investors recently made changes to their positions in the company. Dodge & Cox raised its position in shares of 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 during the last quarter. Renaissance Technologies LLC raised 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. Norges Bank bought a new position in shares of VMware during the fourth quarter valued at approximately $44,115,000. DnB Asset Management AS raised its position in shares of VMware by 242.2% in the first quarter. DnB Asset Management AS now owns 1,091,269 shares of the virtualization software provider’s stock valued at $57,084,000 after buying an additional 772,400 shares during the last quarter. Finally, Darrell & King LLC bought a new position in shares of VMware during the fourth quarter valued at approximately $30,197,000. 22.13% of the stock is owned by hedge funds and other institutional investors.
About VMware
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).
To view Vetr’s full report, visit Vetr’s official website.

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