Needham & Company Maintains Bullish View on VMware (VMW) Following Analyst Day
- Market Wrap: Morgan Stanley Issues Solid Q1 'Beat'; Prologis Enters Large Real Estate Deal; ForceField Energy Founder Exits
- IBM (IBM) Tops Q1 EPS Views
- After-Hours Stock Movers 04/20: (LRCX) (FTNT) (LJPC) Higher; (SANM) (UCTT) (PKG) Lower (more...)
- Prologis (PLD) to Acquire KTR Capital's Real Estate Portfolio in $5.9B Deal
- Rambus (RMBS) Tops Q1 EPS by 8c; Guides Q2 Revenue Below Expecations
Needham & Company analyst Scott Zeller reiterated a Buy rating and $110 price target on VMware (NYSE: VMW) following the company's analyst day, saying long-term guidance is likely conservative.
Zeller comments, "The VMware analyst day focused on demonstrating that the company has executed on CEO Pat Gelsinger’s vision (arrived 2 yrs ago), and also on showing that VMW is positioned to benefit from Software Defined Datacenter (SDDC), End User Computing and Hybrid Cloud. These new areas represent nearly 70% of the “new TAM” the company is chasing, post “compute” (original virtualization market). “Broad strokes” for CY15 revenue were a slight disappointment at “mid-teens” vs. previous 16-20%. With license growth and ELAs invigorated in JuneQ, we believe management is being conservative."
The firm trimmed FY 2015 EPS from $4.39 to $4.20.
Shares of VMware closed at $100.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) Price Target Lifted to $95 at FBR Capital Amid Solid Q1
- KeyBanc Starts Spectrum Brands (SPB) at Overweight
- Multi-Fineline (MFLX) PT, Estimates Lifted at Needham & Company Following Positive Preliminary Q1 Results
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!