RBC Capital Sticks to Its Buy Rating for VMware (VMW)

RBC Capital analyst Matthew Hedberg maintained a Buy rating on VMware (VMW) on March 16 and set a price target of $165.00. The company’s shares closed last Monday at $95.84, close to its 52-week low of $86.00.

According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 14.2% and a 62.3% 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 $166.76, representing a 71.2% upside. In a report issued on March 2, FBN Securities also maintained a Buy rating on the stock with a $160.00 price target.

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VMware’s market cap is currently $40.03B and has a P/E ratio of 6.26. The company has a Price to Book ratio of 5.71.

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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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