VMware (NYSE:VMW) PT Lowered to $180.00 at Jefferies Financial Group

VMware (NYSE:VMW) had its price target cut by Jefferies Financial Group from $198.00 to $180.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the virtualization software provider’s stock. Jefferies Financial Group also issued estimates for VMware’s Q3 2020 earnings at $0.97 EPS, Q4 2020 earnings at $1.73 EPS, FY2020 earnings at $4.80 EPS, Q1 2021 earnings at $1.07 EPS, Q2 2021 earnings at $1.27 EPS, Q3 2021 earnings at $1.26 EPS, Q4 2021 earnings at $1.96 EPS and FY2021 earnings at $5.56 EPS.

VMW has been the subject of several other research reports. Nomura set a $114.00 price target on shares of VMware and gave the company a sell rating in a report on Thursday, August 29th. Stifel Nicolaus reduced their price target on shares of VMware from $160.00 to $150.00 and set a hold rating for the company in a report on Friday, August 23rd. ValuEngine downgraded shares of VMware from a buy rating to a hold rating in a report on Friday, August 23rd. Cleveland Research reissued a hold rating on shares of VMware in a report on Tuesday, September 3rd. Finally, Oppenheimer reissued an outperform rating and set a $200.00 price target on shares of VMware in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $174.27.

Shares of VMW opened at $154.95 on Tuesday. VMware has a 1 year low of $128.69 and a 1 year high of $206.80. The company has a market cap of $61.05 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $147.09 and a 200-day moving average of $171.34.

VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 22nd. The virtualization software provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.45. VMware had a net margin of 66.00% and a return on equity of 47.55%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts predict that VMware will post 4.87 EPS for the current year.

In related news, COO Rangarajan (Raghu) Raghuram sold 24,778 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $140.62, for a total value of $3,484,282.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO P. Kevan Krysler sold 1,589 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $145.00, for a total transaction of $230,405.00. The disclosure for this sale can be found here. Insiders sold 72,498 shares of company stock valued at $11,190,610 in the last ninety days. Corporate insiders own 28.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of VMW. Clarus Wealth Advisors acquired a new stake in VMware in the second quarter worth about $29,000. Coastal Capital Group Inc. bought a new stake in VMware in the second quarter worth about $29,000. TRUE Private Wealth Advisors bought a new stake in VMware in the second quarter worth about $31,000. Pacific Center for Financial Services raised its position in VMware by 94.3% in the second quarter. Pacific Center for Financial Services now owns 206 shares of the virtualization software provider’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Finally, CSat Investment Advisory L.P. bought a new stake in VMware in the second quarter worth about $34,000. 17.52% of the stock is owned by institutional investors and hedge funds.

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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