The company expects revenues of between $1.65 billion and $1.67 billion with analysts projecting revenues of $1.66 billion.
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Shares of VMware, Inc. appreciated by 2.3% during the last five trading days but lost 4.21% on a 4-week basis. Analysts at Goldman Sachs upgraded shares of VMware from a buy rating to a conviction-buy rating and set a $102.00 price target on the stock in a research note on Wednesday, June 24th. On average, analysts predict that VMware will post $4.01 earnings per share for the current fiscal year. Finally, analysts at Citigroup Inc. reiterated a buy rating and set a $99.00 price target (down previously from $105.00) on shares of VMware in a research note on Wednesday.
VMware, Inc. with TICKER NYSE:VMW has had its stock rating noted as “Reitereated” with the recommendation being set at “OUTPERFORM” today by analysts at Oppenheimer. Out of 43 analysts who cover the stock, 27 suggest a Buy, while 15 recommend a Hold. VMware’s hybrid cloud business grew by over 100% year over year through the March quarter.
VMware, Inc. (NYSE:VMW) showing jumped of +3.51% and closed at $86.11, after gaining total volume of 3.06 million shares. On the other hand, VMware’s cash operating expenses – including R&D, sales and marketing expenses combined – were only about 2% higher than the year-ago quarter at just over $1 billion in Q2.
Buoyed by the strong results for the quarter, VMware, Inc. The company presently has an average rating of Buy and a consensus price target of $96.57.
In other VMware news, VP S. Dawn Smith sold 661 shares of the stock in a transaction dated Monday, June 1st. The Insider selling transaction had a total value worth of $80,537. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
The virtualization giant reported a net income of $172 million, or 40 cents per share (statement).
Excluding items, adjusted net income for the second quarter was $396 million or $0.93 per share, compared to $351 million or $0.81 per share in the prior year quarter. The disclosure for this sale can be found here. The stock’s 50-day moving average is $86.64 and its 200-day moving average is $84.51. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (NYSE:VMW), hybrid cloud computing and end-user computing (EUC).
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The price to earnings ratio, or the valuation ratio of a company’s current share price compared to its per-share earnings sits at 42.073. Once created, these internal computing infrastructures, or clouds, can be dynamically linked by its customers to external computing resources that run on a VMware virtualization platform. The Company’s solutions enable organizations to aggregate multiple servers, storage infrastructure and networks together into shared pools of capacity that can be allocated dynamically, securely and reliably to applications as needed, increasing hardware utilization and reducing spending.
