VMware (NYSE:VMW) PT Lowered to $190.00

VMware (NYSE:VMW) had its target price reduced by Deutsche Bank from $220.00 to $190.00 in a research note published on Monday morning, The Fly reports. Deutsche Bank currently has a buy rating on the virtualization software provider’s stock.

Other analysts have also issued reports about the company. Bank of America reiterated a buy rating and issued a $225.00 price objective on shares of VMware in a research report on Friday, May 31st. KeyCorp reiterated an overweight rating and issued a $214.00 price objective (up from $206.00) on shares of VMware in a research report on Friday, May 31st. Maxim Group reiterated a hold rating on shares of VMware in a research report on Friday, August 2nd. BMO Capital Markets boosted their target price on VMware from $195.00 to $198.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Finally, Citigroup boosted their target price on VMware from $201.00 to $235.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $187.64.

Shares of VMW stock opened at $148.09 on Monday. The stock has a 50-day moving average price of $165.62 and a 200 day moving average price of $177.29. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 7.57. The firm has a market cap of $58.81 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.22 and a beta of 0.81. VMware has a 12 month low of $129.33 and a 12 month high of $206.80.

VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, May 30th. The virtualization software provider reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.42. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.25 billion. VMware had a return on equity of 36.48% and a net margin of 21.50%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. Sell-side analysts predict that VMware will post 4.87 earnings per share for the current fiscal year.

In other news, CEO Patrick P. Gelsinger sold 20,000 shares of VMware stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $180.00, for a total transaction of $3,600,000.00. Following the transaction, the chief executive officer now owns 445,214 shares in the company, valued at approximately $80,138,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider P. Kevan Krysler sold 2,661 shares of VMware stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $173.96, for a total value of $462,907.56. Following the transaction, the insider now owns 34,774 shares in the company, valued at approximately $6,049,285.04. The disclosure for this sale can be found here. Insiders have sold a total of 84,053 shares of company stock valued at $14,639,696 over the last 90 days. Corporate insiders own 28.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Clarus Wealth Advisors bought a new position in shares of VMware during the 2nd quarter valued at about $29,000. Coastal Capital Group Inc. bought a new stake in VMware in the 2nd quarter valued at approximately $29,000. TRUE Private Wealth Advisors bought a new stake in VMware in the 2nd quarter valued at approximately $31,000. CSat Investment Advisory L.P. bought a new stake in VMware in the 2nd quarter valued at approximately $34,000. Finally, Pacific Center for Financial Services lifted its stake in VMware by 94.3% in the 2nd quarter. Pacific Center for Financial Services now owns 206 shares of the virtualization software provider’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 17.70% of the company’s stock.

VMware Company Profile

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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