VMware (VMW) Price Target Raised to $194.00 at JPMorgan Chase & Co.

VMware (NYSE:VMW) had its price target lifted by JPMorgan Chase & Co. from $165.00 to $194.00 in a report released on Friday, MarketBeat reports. JPMorgan Chase & Co. currently has an overweight rating on the virtualization software provider’s stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a hold rating and issued a $145.00 target price (up previously from $142.00) on shares of VMware in a report on Friday. Royal Bank of Canada lifted their target price on shares of VMware from $180.00 to $200.00 and gave the company an outperform rating in a report on Friday. They noted that the move was a valuation call. Nomura set a $128.00 target price on shares of VMware and gave the company a reduce rating in a report on Friday. Wedbush reaffirmed an outperform rating and issued a $200.00 target price on shares of VMware in a report on Friday. Finally, Maxim Group reaffirmed a hold rating and issued a $155.00 target price (up previously from $150.00) on shares of VMware in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $166.32.

VMware stock traded up $5.86 during midday trading on Friday, hitting $167.34. 4,234,170 shares of the company’s stock were exchanged, compared to its average volume of 1,227,834. VMware has a 12-month low of $108.46 and a 12-month high of $168.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market capitalization of $66.00 billion, a P/E ratio of 43.35, a PEG ratio of 2.58 and a beta of 0.72.

VMware (NYSE:VMW) last issued its quarterly earnings data on Thursday, November 29th. The virtualization software provider reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.42. VMware had a net margin of 17.03% and a return on equity of 20.49%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted $1.34 EPS. VMware’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities analysts expect that VMware will post 4.72 earnings per share for the current year.

In related news, CEO Patrick P. Gelsinger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $152.13, for a total transaction of $3,803,250.00. Following the sale, the chief executive officer now owns 411,923 shares of the company’s stock, valued at $62,665,845.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Rajiv Ramaswami sold 6,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $160.00, for a total transaction of $960,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,608 shares of company stock worth $11,852,164. 29.90% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. TLP Group LLC purchased a new stake in VMware during the third quarter worth about $118,000. Moneta Group Investment Advisors LLC boosted its holdings in VMware by 217.5% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,000 shares of the virtualization software provider’s stock worth $147,000 after buying an additional 685 shares in the last quarter. Signet Financial Management LLC purchased a new stake in VMware during the second quarter worth about $151,000. Tower Research Capital LLC TRC purchased a new stake in VMware during the third quarter worth about $181,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in VMware during the third quarter worth about $202,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

About VMware

VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses 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; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.

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Analyst Recommendations for VMware (NYSE:VMW)

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