VMware (VMW) Price Target Increased to $206.00 by Analysts at KeyCorp

VMware (NYSE:VMW) had its target price increased by KeyCorp from $192.00 to $206.00 in a research note released on Thursday, The Fly reports. They currently have an overweight rating on the virtualization software provider’s stock.

Several other equities analysts have also weighed in on the company. Barclays started coverage on VMware in a research note on Wednesday, January 9th. They issued an overweight rating and a $168.00 price target for the company. Morgan Stanley lowered VMware from an overweight rating to an equal rating and cut their price target for the company from $175.00 to $152.00 in a research note on Tuesday, January 15th. Nomura set a $130.00 price target on VMware and gave the company a sell rating in a research note on Friday, March 1st. Mizuho started coverage on VMware in a research note on Wednesday, March 13th. They issued a neutral rating and a $160.00 price target for the company. Finally, Raymond James lifted their price target on VMware from $163.00 to $196.00 and gave the company an outperform rating in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $181.09.

Shares of VMware stock opened at $188.09 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 7.70. VMware has a twelve month low of $129.33 and a twelve month high of $194.24. The stock has a market capitalization of $77.20 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77.

VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, February 28th. The virtualization software provider reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.10. VMware had a return on equity of 25.50% and a net margin of 26.99%. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $1.68 EPS. Analysts forecast that VMware will post 4.94 earnings per share for the current fiscal year.

In other news, COO Sanjay Poonen sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $182.60, for a total value of $9,130,000.00. Following the completion of the sale, the chief operating officer now directly owns 308,556 shares in the company, valued at $56,342,325.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rangarajan (Raghu) Raghuram sold 36,311 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $170.24, for a total value of $6,181,584.64. Following the completion of the sale, the chief operating officer now owns 304,104 shares of the company’s stock, valued at $51,770,664.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 278,577 shares of company stock valued at $50,633,077. 29.90% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of VMware by 1.9% in the third quarter. Vanguard Group Inc. now owns 4,387,621 shares of the virtualization software provider’s stock valued at $684,732,000 after purchasing an additional 82,729 shares in the last quarter. Vanguard Group Inc grew its position in shares of VMware by 1.9% in the third quarter. Vanguard Group Inc now owns 4,387,621 shares of the virtualization software provider’s stock valued at $684,732,000 after purchasing an additional 82,729 shares in the last quarter. Investec Asset Management LTD grew its position in shares of VMware by 1.9% in the fourth quarter. Investec Asset Management LTD now owns 2,433,549 shares of the virtualization software provider’s stock valued at $333,713,000 after purchasing an additional 45,534 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of VMware by 0.3% in the third quarter. Clearbridge Investments LLC now owns 2,304,551 shares of the virtualization software provider’s stock valued at $359,648,000 after purchasing an additional 7,342 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of VMware by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 669,382 shares of the virtualization software provider’s stock valued at $91,727,000 after purchasing an additional 42,595 shares in the last quarter. Institutional investors and hedge funds own 17.92% of the company’s stock.

About VMware

VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces 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; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.

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