RBC Capital Maintains Their Buy Rating on VMware (VMW)
RBC Capital analyst Matthew Hedberg maintained a Buy rating on VMware (VMW) on March 29 and set a price target of $165.00. The company’s shares closed last Tuesday at $121.10.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 17.6% and a 66.0% success rate. Hedberg covers the Technology sector, focusing on stocks such as Ping Identity Holding, Altair Engineering, and Netscout Systems.
Currently, the analyst consensus on VMware is a Moderate Buy with an average price target of $162.82, representing a 35.1% upside. In a report issued on March 16, Barclays also maintained a Buy rating on the stock with a $135.00 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 $3.65 billion and net profit of $361 million. In comparison, last year the company earned revenue of $3.23 billion and had a GAAP net loss of $270 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. The company was founded by Diane Greene, Mendel Rosenblum, Scott Devine, Edward Wang and Edouard Bugnion in 1998 and is headquartered in Palo Alto, CA.