VMware (VMW) Gets a Hold Rating from Monness

Monness analyst Brian White maintained a Hold rating on VMware (VMW) today. The company’s shares closed last Tuesday at $121.10.

According to TipRanks.com, White is a top 100 analyst with an average return of 20.0% and a 63.4% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Salesforce.

Currently, the analyst consensus on VMware is a Moderate Buy with an average price target of $162.82, a 35.3% upside from current levels. In a report issued on March 26, Goldman Sachs also maintained a Hold rating on the stock with a $126.00 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.

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