$2.91 Billion in Sales Expected for VMware, Inc. (NYSE:VMW) This Quarter


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Equities analysts expect VMware, Inc. (NYSE:VMW) to post sales of $2.91 billion for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for VMware’s earnings, with estimates ranging from $2.90 billion to $2.93 billion. VMware posted sales of $2.73 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The firm is expected to announce its next quarterly earnings report on Thursday, May 27th.

On average, analysts expect that VMware will report full year sales of $12.71 billion for the current year, with estimates ranging from $12.70 billion to $12.75 billion. For the next financial year, analysts anticipate that the company will report sales of $13.76 billion, with estimates ranging from $13.46 billion to $14.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for VMware.

VMware (NYSE:VMW) last issued its quarterly earnings results on Thursday, February 25th. The virtualization software provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.78. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.23 billion. VMware had a return on equity of 27.10% and a net margin of 13.75%.

A number of analysts recently issued reports on the company. Cleveland Research downgraded VMware from a “buy” rating to a “neutral” rating in a research report on Thursday, February 11th. Bank of America reiterated a “neutral” rating and issued a $175.00 target price on shares of VMware in a research note on Wednesday, April 14th. The Goldman Sachs Group began coverage on VMware in a research note on Thursday, January 21st. They issued a “neutral” rating and a $150.00 target price on the stock. Piper Sandler increased their target price on VMware from $158.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 21st. Finally, UBS Group reduced their target price on VMware from $152.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, January 14th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $171.58.

VMW traded up $0.08 during trading on Thursday, reaching $160.68. The company had a trading volume of 1,162,102 shares, compared to its average volume of 1,385,067. The stock has a market cap of $67.36 billion, a P/E ratio of 42.73, a PEG ratio of 1.94 and a beta of 0.87. The business has a 50 day simple moving average of $155.67 and a 200-day simple moving average of $143.11. VMware has a 52 week low of $126.02 and a 52 week high of $172.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.59.

In related news, EVP Jean Pierre Brulard sold 1,304 shares of the firm’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $160.00, for a total transaction of $208,640.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Amy Fliegelman Olli sold 19,386 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $153.12, for a total value of $2,968,384.32. Following the sale, the executive vice president now directly owns 80,439 shares in the company, valued at approximately $12,316,819.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,559 shares of company stock worth $22,334,165. 28.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Silver Lake Advisory LLC acquired a new stake in VMware in the fourth quarter worth about $2,105,000. RWM Asset Management LLC acquired a new stake in VMware in the fourth quarter worth about $33,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in VMware in the fourth quarter worth about $33,000. Bartlett & Co. LLC boosted its holdings in VMware by 525.0% in the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the virtualization software provider’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in VMware in the fourth quarter worth about $39,000. 16.90% of the stock is owned by institutional investors and hedge funds.

About VMware

VMware, Inc provides software in the areas of hybrid and multi-cloud, modern applications, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer and utilizes its hypervisor software, a layer of software that resides between the operating system and system hardware to enable compute virtualization; vSAN and VxRail, which offers holistic data storage and protection options to all applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a hybrid cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.

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