VMware (VMW) is Reiterated by BMO Capital Markets to Market Perform, Raises Price Target to $ 70

VMware (VMW) was Reiterated by BMO Capital Markets to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $55 . BMO Capital Markets advised their investors in a research report released on Jul 19, 2016.

Many Wall Street Analysts have commented on VMware. VMware was Downgraded by Credit Agricole to ” Underperform” on Jun 16, 2016.

On the company’s financial health, VMware reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.96. The company had revenue of $1693.00 million for the quarter, compared to analysts expectations of $1679.62 million. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

VMware opened for trading at $61.32 and hit $62.33 on the upside on Friday, eventually ending the session at $62.07, with a gain of 1.69% or 1.03 points. The heightened volatility saw the trading volume jump to 19,44,357 shares. Company has a market cap of $26,335 M.

In a different news, on Jun 2, 2016, Sanjay Poonen (EVP, GM, EUC, Head Global Mktg) sold 5,500 shares at $60.08 per share price. According to the SEC, on May 19, 2016, S. Dawn Smith (Senior VP, Chief Legal Officer) sold 6,910 shares at $59.45 per share price. On May 3, 2016, Maurizio Carli (EVP, Worldwide Sales) sold 12,880 shares at $56.01 per share price, according to the Form-4 filing with the securities and exchange commission.

VMware Inc. is a provider of virtualization infrastructure solutions. The Company develops and markets its product and service offerings within three product groups which include software-defined data center (SDDC) hybrid cloud computing and end-user computing (EUC). The Company’s SDDC is designed to transform the data center into an on-demand service that addresses application requirements by abstracting pooling and automating the services that are required from the underlying hardware. The hybrid cloud computing enables customers to utilize off-premise vSphere-based hybrid cloud computing capacity. End-user computing enables information technology (IT) organizations to deliver secure access to data applications and devices to end users.


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