Price Target Update on Vmware (NYSE:VMW)

Vmware (NYSE:VMW) : The highest level Vmware (NYSE:VMW) is projected to reach is $90 for the short term and the lowest estimate is at $34. The consolidated price target from 18 rating analysts who initiate coverage on the stock is $66.22 and the possibility the share price can swing is $12.93.

Other Equity analysts have also commented on the company shares. Cowen & Company downgrades their rating on the shares of Vmware (NYSE:VMW). The current rating of the shares is Market Perform. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on May 24, 2016.

Vmware (NYSE:VMW): stock turned positive on Thursday. Though the stock opened at $60.86, the bulls momentum made the stock top out at $62.2 level for the day. The stock recorded a low of $60.86 and closed the trading day at $62.15, in the green by 2.24%. The total traded volume for the day was 1,991,301. The stock had closed at $60.79 in the previous days trading.

The company shares have dropped -31.96% from its 1 Year high price. On Aug 5, 2015, the shares registered one year high at $93.43 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $59.94 and the 200 Day Moving Average price is recorded at $54.04. On the companys insider trading activities, Poonen Sanjay, officer (EVP, GM, EUC, Head Global Mktg) of Vmware, Inc., unloaded 5,500 shares at an average price of $60.08 on May 31, 2016. The total amount of the transaction was worth $330,440, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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 Companys 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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