VMware (VMW) is Reiterated by FBN Securities to Outperform, Raises Price Target to $ 70

VMware (VMW) was Reiterated by FBN Securities to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $60 . FBN Securities advised their investors in a research report released on Apr 20, 2016.

Many Wall Street Analysts have commented on VMware. Company shares were Reiterated by BMO Capital Markets on Apr 20, 2016 to “Market Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 68 from a previous price target of $61 .Shares were Reiterated by MKM Partners on Jan 27, 2016 to “Buy” and Lowered the Price Target to $ 70 from a previous price target of $75 .

On the company’s financial health, VMware reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.84. The company had revenue of $1589.00 million for the quarter, compared to analysts expectations of $1576.66 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

VMware closed down -0.04 points or -0.08% at $51.69 with 39,75,158 shares getting traded on Monday. Post opening the session at $51.31, the shares hit an intraday low of $51.23 and an intraday high of $51.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 3, 2015, S. Dawn Smith (Senior VP and General Counsel) sold 909 shares at $88.60 per share price. According to the SEC, on May 26, 2015, Paul Maritz (director) sold 271,757 shares at $87.37 per share price. On May 14, 2015, P. Kevan Krysler (Sr. Vice President, CAO) sold 2,850 shares at $89.08 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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