Needham & Company Maintains Bullish View on VMware (VMW) Following Analyst Day
- Market Wrap: CPI Slips in Jan.; The 'Net Gets More Neutral; Apple Plans Watch Event
- Gap, Inc. (GPS) Tops Q4 EPS by 1c, FY EPS Guidance Misses
- After-Hours Stock Movers 02/26: (SREV) (BLOX) (MNST) Higher; (TUBE) (RESN) (VTAE) (WTW) Lower (more...)
- Herbalife (HLF) Tops Q4 EPS by 16c; Guides FY15 Below Views
- JCPenney (JCP) Posts Breakeven Q4 Loss; Comps Rose 4.4%
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
- Broadsoft (BSFT) PT Lifted to $36 at Needham & Company
- United Therapeutics (UTHR) PT Lifted to $195 at Wedbush Posts Q4
- Avago Technologies (AVGO) PT Raised to $145 at Canaccord Genuity
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!