Vmware, Inc. (VMW) Rating Lowered to Hold at Zacks Investment Research

Vmware, Inc. (NYSE:VMW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “VMware is benefitted by robust performance of its product offerings like NSX, AirWatch, vSphere, and vSAN. During the last reported quarter, the company unveiled major updates across its VMware vRealize Cloud Management Platform. We believe that expanding product portfolio, partnerships with the likes of Intel, Samsung, Fujitsu, Pivotal, Alphabet, and Microsoft along with continuing enterprise deal wins will drive results in the rest of fiscal 2018. Further, the company's latest partnership with SAP will help it benefit in the Internet of Things (IoT) market. Moreover, aggressive share repurchase will support bottom-line. The company has outperformed the industry on a year-to-date basis.”

A number of other analysts have also recently commented on the company. Citigroup Inc. reiterated a “buy” rating and set a $124.00 price objective on shares of Vmware in a research report on Monday, August 28th. Berenberg Bank reiterated a “hold” rating and set a $94.00 price objective on shares of Vmware in a research report on Tuesday, August 29th. Jefferies Group LLC lifted their price objective on Vmware from $121.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Credit Suisse Group initiated coverage on Vmware in a research report on Tuesday, September 5th. They set an “outperform” rating and a $130.00 price objective for the company. Finally, Bank of America Corporation upgraded Vmware from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $108.00 to $120.00 in a research report on Friday, August 25th. Fifteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Vmware has an average rating of “Buy” and an average target price of $112.84.

Shares of Vmware (VMW) opened at 119.69 on Monday. The company has a 50 day moving average of $113.03 and a 200-day moving average of $98.85. Vmware has a one year low of $74.85 and a one year high of $121.09. The stock has a market cap of $48.95 billion, a price-to-earnings ratio of 43.08 and a beta of 0.72.

Vmware (NYSE:VMW) last posted its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. On average, analysts anticipate that Vmware will post $5.07 earnings per share for the current year.

Vmware declared that its Board of Directors has initiated a share buyback plan on Monday, August 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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In other Vmware news, COO Sanjay Poonen sold 1,134 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $106.51, for a total value of $120,782.34. Following the transaction, the chief operating officer now directly owns 192,774 shares of the company’s stock, valued at approximately $20,532,358.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.82, for a total value of $646,920.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,885 shares of company stock worth $2,248,548. 0.52% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in VMW. Oppenheimer Asset Management Inc. acquired a new position in shares of Vmware in the 1st quarter valued at approximately $141,000. Penserra Capital Management LLC raised its position in shares of Vmware by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after purchasing an additional 240 shares in the last quarter. Enterprise Financial Services Corp raised its position in shares of Vmware by 3,975.6% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after purchasing an additional 1,630 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Vmware in the 2nd quarter valued at approximately $191,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of Vmware in the 2nd quarter valued at approximately $203,000. 22.28% of the stock is currently owned by institutional investors.

About Vmware

VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).

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