VMware (VMW) is Resumed by JP Morgan to Overweight

VMware (VMW) was Resumed by JP Morgan to “Overweight”. JP Morgan advised their investors in a research report released on Sep 8, 2016.

Many Wall Street Analysts have commented on VMware. VMware was Downgraded by Goldman to ” Neutral” on Sep 7, 2016. Company shares were Reiterated by Mizuho on Sep 1, 2016 to “Neutral”, Firm has raised the Price Target to $ 66 from a previous price target of $61 .Company shares were Upgraded by SunTrust on Aug 30, 2016 to ” Buy”, Firm has raised the Price Target to $ 92 from a previous price target of $64 .

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 closed down -0.63 points or -0.86% at $72.76 with 7,486,471 shares getting traded on Wednesday. Post opening the session at $73.28, the shares hit an intraday low of $71.81 and an intraday high of $74.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Sep 1, 2016, S. Dawn Smith (Senior VP, Chief Legal Officer) sold 632 shares at $76.40 per share price. According to the SEC, on Jul 29, 2016, P. Kevan Krysler (Sr. Vice President, CAO) sold 6,988 shares at $72.40 per share price. 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 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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