Citigroup Downgrades VMware to Neutral with Price Target $79.00

Brokerage firm Citigroup Downgrades its rating on VMware(NYSE:VMW). In a research note issued to the investors, the brokerage major Lowers the price-target to $79.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Jul 26, 2016.

In a different note, On Jul 25, 2016, Morgan Stanley said it Assumes its rating on VMware. The shares have been rated ‘Overweight’ by the firm. On Jul 19, 2016, Deutsche Bank said it Maintains its rating on VMware. In the research note, the firm Raises the price-target to $55.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 19, 2016, UBS said it Maintains its rating on VMware. In the research note, the firm Raises the price-target to $72.00 per share. The shares have been rated ‘Buy’ by the firm. On May 24, 2016, Cowen & Company said it Downgrades its rating on VMware. The shares have been rated ‘Market Perform’ by the firm.

VMware (VMW) made into the market gainers list on Fridays trading session with the shares advancing 0.01% or 0.01 points. Due to strong positive momentum, the stock ended at $72.98, which is also near the day’s high of $73.14. The stock began the session at $72.81 and the volume stood at 15,88,223 shares. The 52-week high of the shares is $93.43 and the 52 week low is $43.25. The company has a current market capitalization of $30,963 M and it has 42,42,72,590 shares in outstanding.

VMware(VMW) last announced its earnings results on Jul 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.69B. Analysts had an estimated revenue of $1.68B. Earnings per share were $0.97. Analysts had estimated an EPS of $0.95.

Several Insider Transactions has been reported 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.Also, On May 19, 2016, S. Dawn Smith (Senior VP, Chief Legal Officer) sold 6,910 shares at $59.45 per share price.On May 3, 2016, Maurizio Carli (EVP, Worldwide Sales) sold 12,880 shares at $56.01 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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