VMware (NYSE:VMW) Posts Quarterly Earnings Results, Misses Expectations By $0.28 EPS

VMware (NYSE:VMWGet Rating) posted its quarterly earnings results on Thursday. The virtualization software provider reported $1.28 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.28), MarketWatch Earnings reports. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.19 billion. VMware had a return on equity of 30.03% and a net margin of 14.16%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share.

Shares of VMW traded up $4.90 during trading hours on Friday, hitting $129.26. The stock had a trading volume of 5,826,066 shares, compared to its average volume of 1,979,925. The company’s fifty day moving average is $110.30 and its two-hundred day moving average is $116.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.83 and a quick ratio of 0.83. VMware has a 52 week low of $91.53 and a 52 week high of $167.83. The stock has a market capitalization of $54.43 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 1.56 and a beta of 0.68.

In other VMware news, EVP Amy Fliegelman Olli sold 18,338 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $125.00, for a total transaction of $2,292,250.00. Following the transaction, the executive vice president now directly owns 77,034 shares in the company, valued at approximately $9,629,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jean Pierre Brulard sold 7,656 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $114.04, for a total transaction of $873,090.24. Following the transaction, the executive vice president now owns 79,485 shares in the company, valued at $9,064,469.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,166 shares of company stock worth $7,081,793. 27.80% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Zions Bancorporation N.A. increased its stake in shares of VMware by 140.2% in the 1st quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock valued at $27,000 after acquiring an additional 136 shares during the last quarter. Covestor Ltd increased its stake in shares of VMware by 31.0% in the 1st quarter. Covestor Ltd now owns 651 shares of the virtualization software provider’s stock valued at $74,000 after acquiring an additional 154 shares during the last quarter. Tobam increased its stake in shares of VMware by 111.3% in the 4th quarter. Tobam now owns 674 shares of the virtualization software provider’s stock valued at $78,000 after acquiring an additional 355 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of VMware by 3,733.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,150 shares of the virtualization software provider’s stock valued at $131,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Synovus Financial Corp bought a new stake in shares of VMware in the 4th quarter valued at about $202,000. 47.04% of the stock is owned by institutional investors.

Several analysts recently commented on the stock. Cross Research decreased their price target on shares of VMware from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, February 25th. Raymond James decreased their price target on shares of VMware from $175.00 to $167.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Credit Suisse Group reduced their target price on shares of VMware from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of VMware from $160.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, February 25th. Finally, Royal Bank of Canada cut shares of VMware from an “outperform” rating to a “sector perform” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $139.57.

About VMware (Get Rating)

VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.

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Earnings History for VMware (NYSE:VMW)

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