New Buy Rating for VMware (VMW), the Technology Giant


Raymond James analyst Michael Turits maintained a Buy rating on VMware (VMW) today and set a price target of $185. The company’s shares closed last Monday at $148.15.

According to TipRanks.com, Turits is a top 100 analyst with an average return of 24.6% and a 76.0% success rate. Turits covers the Technology sector, focusing on stocks such as Carbon Black Inc, New Relic Inc, and Cloudera Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VMware with a $186.86 average price target, representing a 25.4% upside. In a report issued on August 15, Jefferies also maintained a Buy rating on the stock with a $213 price target.

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Based on VMware’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $2.27 billion and net profit of $505 million. In comparison, last year the company earned revenue of $2.17 billion and had a net profit of $644 million.

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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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