Merrill Lynch Believes VMware (VMW) Won’t Stop Here


Merrill Lynch analyst Kash Rangan reiterated a Buy rating on VMware (VMW) today and set a price target of $225. The company’s shares closed yesterday at $191.09, close to its 52-week high of $206.80.

According to TipRanks.com, Rangan is a 5-star analyst with an average return of 13.0% and a 67.7% success rate. Rangan covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Salesforce.com, and Cloudera Inc.

VMware has an analyst consensus of Moderate Buy, with a price target consensus of $196.82, implying a 3.0% upside from current levels. In a report issued on May 17, Barclays also maintained a Buy rating on the stock with a $224 price target.

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Based on VMware’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $2.59 billion and net profit of $502 million. In comparison, last year the company earned revenue of $2.01 billion and had a net profit of $942 million.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. Last month, Sanjay Poonen, the COO, Customer Operations of VMW sold 30,000 shares for a total of $5,759,100.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

VMware, Inc. engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.

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