Jefferies Maintains VMware to Buy with Price Target $89.00

Brokerage firm Jefferies Maintains its rating on VMware(NYSE:VMW). In a research note issued to the investors, the brokerage major Raises the price-target to $89.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Sep 12, 2016.

In a different note, On Sep 8, 2016, JP Morgan said it Reinstates its rating on VMware. The shares have been rated ‘Overweight’ by the firm. On Sep 8, 2016, Cleveland Research said it Upgrades its rating on VMware. The shares have been rated ‘Buy’ by the firm. On Sep 7, 2016, Goldman Sachs said it Reinstates its rating on VMware. The shares have been rated ‘Neutral’ by the firm. On Aug 30, 2016, SunTrust Robinson Humphrey said it Upgrades its rating on VMware. The shares have been rated ‘Buy’ by the firm. On Jul 26, 2016, Citigroup said it Downgrades its rating on VMware. In the research note, the firm Lowers the price-target to $99.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 26, 2016, Bernstein said it Maintains its rating on VMware. The shares have been rated ‘Market Perform’ by the firm.

VMware (VMW) made into the market gainers list on Tuesdays trading session with the shares advancing 0.51% or 0.37 points. Due to strong positive momentum, the stock ended at $73.05, which is also near the day’s high of $73.505. The stock began the session at $73.2 and the volume stood at 21,08,848 shares. The 52-week high of the shares is $82.35 and the 52 week low is $43.25. The company has a current market capitalization of $31,003 M and it has 42,44,08,250 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 Sep 9, 2016, S. Dawn Smith (Senior VP, Chief Legal Officer) sold 977 shares at $73.59 per share price.Also, 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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