VMware (VMW) Receives a New Rating from a Top Analyst

Oppenheimer analyst Ittai Kidron assigned a Buy rating to VMware (VMW) yesterday and set a price target of $175.00. The company’s shares closed last Thursday at $142.44.

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 32.6% and a 74.8% success rate. Kidron covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Zoom Video Communications, and Slack Technologies.

Currently, the analyst consensus on VMware is a Moderate Buy with an average price target of $152.46, an 8.7% upside from current levels. In a report issued on May 27, BMO Capital also maintained a Buy rating on the stock with a $152.00 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.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VMW in relation to earlier this year.

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. 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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