VMware (VMW) is Upgraded by SunTrust to Buy, Raises Price Target to $ 92

VMware (VMW) was Upgraded by SunTrust to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 92 from a previous price target of $64 . Earlier the firm had a rating of “Neutral ” on the company shares. SunTrust advised their investors in a research report released on Aug 30, 2016.

Many Wall Street Analysts have commented on VMware. VMware was Downgraded by Citigroup to ” Neutral” on Jul 26, 2016. Morgan Stanley Resumed VMware on Jul 25, 2016 to “Overweight”, Price Target of the shares are set at $86.Company shares were Reiterated by BMO Capital Markets on Jul 19, 2016 to “Market Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $55 .

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 $73.94 and hit $75.57 on the upside on Monday, eventually ending the session at $75.23, with a gain of 1.32% or 0.98 points. The heightened volatility saw the trading volume jump to 15,09,100 shares. Company has a market cap of $31,928 M.

In a different news, on Jul 29, 2016, P. Kevan Krysler (Sr. Vice President, CAO) sold 6,988 shares at $72.40 per share price. According to the SEC, on Jun 2, 2016, Sanjay Poonen (EVP, GM, EUC, Head Global Mktg) sold 5,500 shares at $60.08 per share price. On May 19, 2016, S. Dawn Smith (Senior VP, Chief Legal Officer) sold 6,910 shares at $59.45 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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