VMware (NYSE:VMW) Lowered to “Neutral” at Piper Sandler

VMware (NYSE:VMWGet Rating) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

Several other research firms have also commented on VMW. UBS Group cut their price target on VMware from $125.00 to $119.00 and set a “neutral” rating on the stock in a research report on Friday, February 25th. Credit Suisse Group dropped their target price on VMware from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Raymond James decreased their price target on VMware from $175.00 to $167.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Cross Research decreased their price target on VMware from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Finally, JPMorgan Chase & Co. decreased their target price on VMware from $160.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $139.05.

NYSE VMW traded up $2.78 during mid-day trading on Thursday, hitting $123.32. The stock had a trading volume of 243,074 shares, compared to its average volume of 1,860,957. VMware has a twelve month low of $91.53 and a twelve month high of $167.83. The stock has a market capitalization of $51.92 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.56 and a beta of 0.68. The firm’s 50 day moving average is $109.84 and its 200 day moving average is $116.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.83 and a quick ratio of 0.83.

VMware (NYSE:VMWGet Rating) last announced its earnings results on Thursday, May 26th. The virtualization software provider reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.28). The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.19 billion. VMware had a net margin of 14.16% and a return on equity of 30.03%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 earnings per share. As a group, equities research analysts expect that VMware will post 4.83 earnings per share for the current year.

In related news, CFO Zane Rowe sold 34,172 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $114.61, for a total transaction of $3,916,452.92. Following the sale, the chief financial officer now directly owns 171,042 shares in the company, valued at approximately $19,603,123.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jean Pierre Brulard sold 7,656 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $114.04, for a total transaction of $873,090.24. Following the sale, the executive vice president now owns 79,485 shares in the company, valued at $9,064,469.40. The disclosure for this sale can be found here. Insiders have sold 60,166 shares of company stock valued at $7,081,793 over the last 90 days. Company insiders own 27.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new position in shares of VMware during the 4th quarter valued at $25,000. SOA Wealth Advisors LLC. bought a new stake in shares of VMware in the fourth quarter worth approximately $26,000. Zions Bancorporation N.A. grew its position in VMware by 140.2% during the first quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock valued at $27,000 after buying an additional 136 shares during the period. Tompkins Financial Corp bought a new position in shares of VMware in the fourth quarter worth approximately $31,000. Finally, CVA Family Office LLC purchased a new stake in VMware during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 47.04% of the company’s stock.

About VMware (Get Rating)

VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.

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