Deutsche Bank Cuts VMware (NYSE:VMW) Price Target to $190.00

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

Several other brokerages also recently commented on VMW. Morgan Stanley lowered their price target on VMware from $192.00 to $190.00 and set an equal weight rating on the stock in a report on Friday, May 31st. Cleveland Research reiterated a buy rating on shares of VMware in a report on Tuesday, May 28th. Jefferies Financial Group increased their price target on VMware from $203.00 to $213.00 and gave the company a buy rating in a report on Friday, May 31st. Raymond James increased their price target on VMware from $196.00 to $206.00 and gave the company an outperform rating in a report on Friday, May 31st. Finally, BMO Capital Markets increased their price target on VMware from $195.00 to $198.00 and gave the company an outperform rating in a report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $187.64.

NYSE:VMW opened at $148.09 on Monday. The stock’s 50 day moving average price is $165.62 and its 200 day moving average price is $177.29. VMware has a 52 week low of $129.33 and a 52 week high of $206.80. The company has a market capitalization of $58.81 billion, a P/E ratio of 30.04, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 7.57, a quick ratio of 0.97 and a current ratio of 0.97.



VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, May 30th. The virtualization software provider reported $1.32 EPS for the quarter, beating the consensus estimate of $0.90 by $0.42. VMware had a return on equity of 36.48% and a net margin of 21.50%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that VMware will post 4.87 earnings per share for the current fiscal year.

In other news, insider P. Kevan Krysler sold 2,661 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $173.96, for a total value of $462,907.56. Following the completion of the sale, the insider now directly owns 34,774 shares of the company’s stock, valued at $6,049,285.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Rajiv Ramaswami sold 38,813 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $170.58, for a total value of $6,620,721.54. Following the completion of the sale, the chief operating officer now directly owns 181,243 shares of the company’s stock, valued at $30,916,430.94. The disclosure for this sale can be found here. Insiders sold 84,053 shares of company stock valued at $14,639,696 over the last three months. 28.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in shares of VMware by 2.8% in the second quarter. D.A. Davidson & CO. now owns 2,357 shares of the virtualization software provider’s stock valued at $394,000 after acquiring an additional 64 shares during the period. Oppenheimer Asset Management Inc. lifted its position in VMware by 3.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,336 shares of the virtualization software provider’s stock worth $391,000 after purchasing an additional 69 shares during the period. Advisor Group Inc. lifted its position in VMware by 1.1% in the second quarter. Advisor Group Inc. now owns 6,676 shares of the virtualization software provider’s stock worth $1,117,000 after purchasing an additional 71 shares during the period. Holderness Investments Co. lifted its position in VMware by 2.5% in the second quarter. Holderness Investments Co. now owns 3,125 shares of the virtualization software provider’s stock worth $523,000 after purchasing an additional 75 shares during the period. Finally, Wetherby Asset Management Inc. lifted its position in VMware by 3.9% in the second quarter. Wetherby Asset Management Inc. now owns 2,523 shares of the virtualization software provider’s stock worth $422,000 after purchasing an additional 94 shares during the period. 17.70% of the stock is owned by institutional investors.

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.

See Also: What are the advantages of the Stochastic Momentum Index?

The Fly

Analyst Recommendations for VMware (NYSE:VMW)

Receive News & Ratings for VMware Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VMware and related companies with MarketBeat.com's FREE daily email newsletter.