Vmware (VMW) : Traders are bullish on Vmware (VMW) as it has outperformed the S&P 500 by a wide margin of 1.41% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.51%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.48% in the last 1 week, and is up 1.8% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
VMware, Inc. is up 21.89% in the last 3-month period. Year-to-Date the stock performance stands at 28.76%. The stock has recorded a 20-day Moving Average of 1.92% and the 50-Day Moving Average is 11.8%.
Vmware (NYSE:VMW): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $71.42 and $71.42 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $72.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $72.84, notching a gain of 1.10% for the day. The total traded volume was 3,303,248 . The stock had closed at $72.05 on the previous day.
Also, Citigroup downgrades its view on Vmware (NYSE:VMW) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Buy. Citigroup lowers the price target from $99 per share to $79 per share on Vmware . The rating by the firm was issued on July 26, 2016.
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.