VMware Inc. (VMW) Rating Reiterated by JPMorgan Chase & Co.
VMware Inc. (NYSE:VMW)‘s stock had its “overweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a report issued on Thursday. They presently have a $90.00 target price on the virtualization software provider’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 21.07% from the stock’s previous close.
Several other research firms have also recently issued reports on VMW. Needham & Company LLC reaffirmed a “hold” rating on shares of VMware in a research report on Thursday. Vetr raised VMware from a “buy” rating to a “strong-buy” rating and set a $81.86 price objective on the stock in a research report on Wednesday. Goldman Sachs Group Inc. cut VMware from a “buy” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research report on Wednesday. Pacific Crest reaffirmed a “sector perform” rating on shares of VMware in a research report on Monday. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 price objective on shares of VMware in a research report on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, twenty-six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. VMware has a consensus rating of “Hold” and a consensus price target of $77.40.
VMware (NYSE:VMW) traded up 2.17% during trading on Thursday, hitting $74.34. The stock had a trading volume of 5,675,543 shares. The company has a 50-day moving average price of $72.37 and a 200-day moving average price of $60.12. The company has a market cap of $31.55 billion, a price-to-earnings ratio of 29.95 and a beta of 1.30. VMware has a 52-week low of $43.25 and a 52-week high of $82.35.
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VMware (NYSE:VMW) last issued its quarterly earnings results 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 earned $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts forecast that VMware will post $4.29 EPS for the current year.
In other VMware news, insider P. Kevan Krysler sold 6,988 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total value of $505,931.20. Following the completion of the sale, the insider now directly owns 78,654 shares in the company, valued at $5,694,549.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP S. Dawn Smith sold 632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.40, for a total transaction of $48,284.80. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Other large investors have recently made changes to their positions in the company. BlueMountain Capital Management LLC purchased a new stake in shares of VMware during the first quarter valued at $106,000. Acrospire Investment Management LLC purchased a new stake in shares of VMware during the first quarter valued at $183,000. Envestnet Asset Management Inc. increased its stake in shares of VMware by 43.5% in the first quarter. Envestnet Asset Management Inc. now owns 4,028 shares of the virtualization software provider’s stock valued at $211,000 after buying an additional 1,222 shares during the period. Capstone Asset Management Co. purchased a new stake in shares of VMware during the second quarter valued at $211,000. Finally, Glenview State Bank Trust DEPT. purchased a new stake in shares of VMware during the second quarter valued at $229,000. Institutional investors own 22.13% of the company’s stock.
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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