VMware (NYSE:VMW) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of VMware (NYSE:VMW) in a research note published on Monday morning, TipRanks reports. The firm issued a buy rating and a $190.00 target price on the virtualization software provider’s stock.

VMW has been the subject of a number of other reports. Morgan Stanley increased their price target on shares of VMware from $156.00 to $160.00 and gave the company an equal weight rating in a report on Friday, May 28th. BMO Capital Markets increased their price target on shares of VMware from $150.00 to $175.00 and gave the company a market perform rating in a report on Friday, May 28th. They noted that the move was a valuation call. Raymond James reissued an outperform rating and issued a $175.00 price target on shares of VMware in a report on Friday, June 25th. Stifel Nicolaus increased their price target on shares of VMware from $175.00 to $185.00 and gave the company a buy rating in a report on Friday, August 27th. Finally, Barclays raised their price objective on shares of VMware from $180.00 to $190.00 and gave the stock an overweight rating in a report on Friday, May 28th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $170.36.

VMware stock traded down $0.49 during trading hours on Monday, hitting $138.43. The company had a trading volume of 36,309 shares, compared to its average volume of 1,232,879. The firm has a market capitalization of $57.97 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.11 and a quick ratio of 1.09. The firm’s fifty day moving average is $151.74 and its 200-day moving average is $155.19. VMware has a fifty-two week low of $126.79 and a fifty-two week high of $172.00.

VMware (NYSE:VMW) last announced its quarterly earnings results on Wednesday, August 25th. The virtualization software provider reported $1.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.11. VMware had a net margin of 16.77% and a return on equity of 23.49%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business posted $1.81 EPS. Analysts anticipate that VMware will post 4.61 earnings per share for the current year.

In other VMware news, President Sumit Dhawan sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $146.52, for a total value of $234,432.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jean Pierre Brulard sold 338 shares of the business’s stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $160.00, for a total transaction of $54,080.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,416 shares of company stock worth $506,044. 27.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of VMW. Amundi Pioneer Asset Management Inc. lifted its position in VMware by 51.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,248 shares of the virtualization software provider’s stock worth $10,153,000 after purchasing an additional 19,154 shares during the period. Dimensional Fund Advisors LP lifted its position in VMware by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 169,620 shares of the virtualization software provider’s stock worth $23,790,000 after purchasing an additional 8,456 shares during the period. Victory Capital Management Inc. lifted its position in VMware by 2.4% during the first quarter. Victory Capital Management Inc. now owns 103,443 shares of the virtualization software provider’s stock worth $15,563,000 after purchasing an additional 2,463 shares during the period. Standard Life Aberdeen plc lifted its position in VMware by 9.4% during the first quarter. Standard Life Aberdeen plc now owns 9,916 shares of the virtualization software provider’s stock worth $1,492,000 after purchasing an additional 855 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of VMware by 2.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,848 shares of the virtualization software provider’s stock worth $2,836,000 after acquiring an additional 394 shares during the last quarter. 16.97% of the stock is owned by institutional investors and hedge funds.

About VMware

VMware, Inc engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.

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