Today: The Jefferies Group Increases VMware Inc. (VMW) Price Target to $91.00

The Jefferies Group Increases VMware Inc. (VMW) Price Target to $91.00

VMware Inc. (NYSE:VMW) had its price objective raised by equities research analysts at Jefferies Group from $89.00 to $91.00 in a report released on Thursday. The brokerage currently has a “buy” rating on the virtualization software provider’s stock. Jefferies Group’s price objective points to a potential upside of 17.19% from the company’s previous close.

VMW has been the subject of several other reports. Morgan Stanley reissued a “buy” rating and issued a $86.00 price objective on shares of VMware in a research note on Monday, September 26th. Vetr raised VMware from a “buy” rating to a “strong-buy” rating and set a $81.86 price target for the company in a research note on Wednesday, September 7th. Robert W. Baird reaffirmed a “hold” rating on shares of VMware in a research note on Friday, September 9th. RBC Capital Markets reaffirmed an “outperform” rating and set a $88.00 price target on shares of VMware in a research note on Monday, September 12th. Finally, Summit Redstone reaffirmed a “hold” rating and set a $60.00 price target on shares of VMware in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $78.00.

Shares of VMware (NYSE:VMW) opened at 77.65 on Thursday. The stock has a market cap of $32.14 billion, a PE ratio of 29.51 and a beta of 1.24. The stock’s 50 day moving average price is $73.51 and its 200-day moving average price is $65.99. VMware has a one year low of $43.25 and a one year high of $77.98.

VMware (NYSE:VMW) last announced its quarterly earnings data on Wednesday, October 26th. The virtualization software provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm earned $1.78 billion during the quarter, compared to the consensus estimate of $296.82 million. VMware had a return on equity of 15.93% and a net margin of 16.14%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. On average, equities analysts predict that VMware will post $4.36 earnings per share for the current fiscal year.

In other VMware news, VP S. Dawn Smith sold 632 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.40, for a total value of $48,284.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. British Columbia Investment Management Corp boosted its position in VMware by 18.4% in the second quarter. British Columbia Investment Management Corp now owns 51,246 shares of the virtualization software provider’s stock valued at $2,932,000 after buying an additional 7,955 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in VMware by 0.3% in the second quarter. BNP Paribas Arbitrage SA now owns 128,233 shares of the virtualization software provider’s stock valued at $7,337,000 after buying an additional 444 shares in the last quarter. Summit Financial Wealth Advisors LLC purchased a new position in VMware during the second quarter valued at $437,000. BlueMountain Capital Management LLC purchased a new position in VMware during the first quarter valued at $106,000. Finally, Panagora Asset Management Inc. boosted its position in VMware by 16,788.4% in the first quarter. Panagora Asset Management Inc. now owns 410,387 shares of the virtualization software provider’s stock valued at $21,467,000 after buying an additional 407,957 shares in the last quarter. 22.02% of the stock is owned by hedge funds and other institutional investors.

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