VMware (VMW) Price Target Increased to $210.00 by Analysts at Wedbush

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VMware (NYSE:VMW) had its price objective lifted by Wedbush from $190.00 to $210.00 in a report released on Thursday morning, The Fly reports. They currently have an outperform rating on the virtualization software provider’s stock.

VMW has been the topic of several other reports. Morgan Stanley cut VMware from an overweight rating to an equal rating and reduced their target price for the stock from $175.00 to $152.00 in a report on Tuesday, January 15th. KeyCorp lifted their target price on VMware from $172.00 to $192.00 and gave the stock an overweight rating in a report on Friday, March 1st. Deutsche Bank lifted their target price on VMware from $190.00 to $200.00 and gave the stock a buy rating in a report on Friday, March 1st. BMO Capital Markets began coverage on VMware in a report on Thursday, January 10th. They issued an outperform rating and a $170.00 target price on the stock. Finally, Goldman Sachs Group began coverage on VMware in a report on Friday, January 11th. They issued a neutral rating and a $155.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. VMware has an average rating of Hold and an average price target of $180.48.

Shares of VMware stock opened at $192.81 on Thursday. VMware has a 52 week low of $120.53 and a 52 week high of $193.60. The stock has a market capitalization of $78.99 billion, a PE ratio of 39.11, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.70.

VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, February 28th. The virtualization software provider reported $1.60 EPS 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 business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $1.68 earnings per share. On average, equities research analysts anticipate that VMware will post 4.94 EPS for the current fiscal year.

In other VMware news, VP Amy Fliegelman Olli sold 1,723 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $178.98, for a total transaction of $308,382.54. Following the sale, the vice president now directly owns 34,332 shares of the company’s stock, valued at $6,144,741.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger sold 21,086 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $178.74, for a total value of $3,768,911.64. Following the sale, the chief executive officer now directly owns 277,920 shares in the company, valued at $49,675,420.80. The disclosure for this sale can be found here. Insiders have sold 248,577 shares of company stock worth $44,873,977 over the last three months. 29.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carnick & Kubik Group LLC increased its stake in VMware by 0.9% during the first quarter. Carnick & Kubik Group LLC now owns 16,046 shares of the virtualization software provider’s stock worth $2,896,000 after acquiring an additional 150 shares during the last quarter. CAPROCK Group Inc. bought a new stake in VMware during the first quarter worth approximately $227,000. First Citizens Bank & Trust Co. increased its stake in VMware by 13.9% during the first quarter. First Citizens Bank & Trust Co. now owns 10,295 shares of the virtualization software provider’s stock worth $1,858,000 after acquiring an additional 1,257 shares during the last quarter. Physicians Financial Services Inc. bought a new stake in VMware during the first quarter worth approximately $253,000. Finally, NuWave Investment Management LLC increased its stake in VMware by 606.7% during the first quarter. NuWave Investment Management LLC now owns 2,438 shares of the virtualization software provider’s stock worth $440,000 after acquiring an additional 2,093 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

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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