$3.12 Billion in Sales Expected for VMware, Inc. (NYSE:VMW) This Quarter

Equities research analysts predict that VMware, Inc. (NYSE:VMW) will post sales of $3.12 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for VMware’s earnings, with the lowest sales estimate coming in at $3.12 billion and the highest estimate coming in at $3.14 billion. VMware reported sales of $2.86 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The business is expected to announce its next earnings report on Tuesday, November 23rd.

On average, analysts expect that VMware will report full year sales of $12.81 billion for the current year, with estimates ranging from $12.80 billion to $12.85 billion. For the next fiscal year, analysts anticipate that the business will post sales of $13.80 billion, with estimates ranging from $13.67 billion to $14.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow VMware.

VMware (NYSE:VMW) last released its quarterly earnings data on Wednesday, August 25th. The virtualization software provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. VMware had a net margin of 16.77% and a return on equity of 23.49%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business earned $1.81 EPS.

VMW has been the subject of several research reports. Morgan Stanley increased their price objective on shares of VMware from $156.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, May 28th. Barclays lifted their target price on shares of VMware from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, May 28th. They noted that the move was a valuation call. Raymond James reissued an “outperform” rating and issued a $175.00 price target on shares of VMware in a research note on Friday, June 25th. Citigroup boosted their price objective on shares of VMware from $178.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Finally, BMO Capital Markets upped their price target on shares of VMware from $150.00 to $175.00 and gave the company a “market perform” rating in a report on Friday, May 28th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, VMware currently has an average rating of “Hold” and an average price target of $170.36.

Shares of VMware stock traded down $2.01 on Friday, reaching $139.89. 1,345,721 shares of the stock were exchanged, compared to its average volume of 1,223,772. The firm’s 50 day moving average is $152.45 and its 200-day moving average is $154.98. VMware has a one year low of $126.79 and a one year high of $172.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.09 and a current ratio of 1.11. The firm has a market cap of $58.58 billion, a PE ratio of 28.72, a P/E/G ratio of 2.16 and a beta of 0.76.

In related news, President Sumit Dhawan sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $146.52, for a total transaction of $234,432.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy Fliegelman Olli sold 1,478 shares of the company’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $147.18, for a total value of $217,532.04. The disclosure for this sale can be found here. Insiders have sold 3,416 shares of company stock worth $506,044 in the last 90 days. Insiders own 27.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. raised its position in VMware by 29.8% in the 1st quarter. Vontobel Holding Ltd. now owns 29,762 shares of the virtualization software provider’s stock valued at $4,478,000 after purchasing an additional 6,837 shares in the last quarter. FORA Capital LLC purchased a new position in shares of VMware in the 1st quarter valued at approximately $1,379,000. Victory Capital Management Inc. grew its stake in shares of VMware by 2.4% in the 1st quarter. Victory Capital Management Inc. now owns 103,443 shares of the virtualization software provider’s stock valued at $15,563,000 after purchasing an additional 2,463 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of VMware by 25.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,249 shares of the virtualization software provider’s stock valued at $1,692,000 after purchasing an additional 2,284 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of VMware by 13.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,254 shares of the virtualization software provider’s stock valued at $1,693,000 after buying an additional 1,306 shares during the period. 16.97% of the stock is currently owned by hedge funds and other institutional investors.

About VMware

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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