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

Monness analyst Brian White maintained a Hold rating on VMware (VMW) today. The company’s shares closed last Wednesday at $147.24.

According to TipRanks.com, White is a top 25 analyst with an average return of 29.9% and a 76.9% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Alphabet Class A.

Currently, the analyst consensus on VMware is a Moderate Buy with an average price target of $172.50.

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Based on VMware’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $2.88 billion and net profit of $447 million. In comparison, last year the company earned revenue of $2.63 billion and had a net profit of $5.3 billion.

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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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