Needham & Company Reiterates a 'Buy' on VMware (VMW); Creating a Horse Race
Tweet Send to a FriendGet Alerts VMW Hot Sheet
Price: $76.76 -2.77%
Rating Summary:
19 Buy, 19 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
19 Buy, 19 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Trade VMW Now!
Needham & Company reiterates a 'Buy' on VMware (NYSE: VMW) price target of $127.00.
Analyst, Scott Zeller, said, "The announcement of Pat Gelsinger as the new
CEO of VMW (effective Sept 1) seems to be driven by two factors: (a) it appears EMC (NYSE: EMC) could be creating a “horse race” for succeeding CEO Joe Tucci by moving Pat Gelsinger into a CEO role as a “test” (our view), and (b) we believe VMW may be transitioning from “build the stack” mode under CEO Maritz, and moving toward “execute on, and sell the stack” under respected operating executive Gelsinger. As for the JuneQ VMW preannouncement, results were slightly above consensus, and the CY12 outlook was reiterated on revenue and margins."
FY12 EPS estimate raised from $2.68 to $2.71.
For an analyst ratings summary and ratings history on VMware click here. For more ratings news on VMware click here.
Shares of VMware closed at $80.29 yesterday, with a 52 week range of $74.69-$118.79.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Scott Zeller, said, "The announcement of Pat Gelsinger as the new
CEO of VMW (effective Sept 1) seems to be driven by two factors: (a) it appears EMC (NYSE: EMC) could be creating a “horse race” for succeeding CEO Joe Tucci by moving Pat Gelsinger into a CEO role as a “test” (our view), and (b) we believe VMW may be transitioning from “build the stack” mode under CEO Maritz, and moving toward “execute on, and sell the stack” under respected operating executive Gelsinger. As for the JuneQ VMW preannouncement, results were slightly above consensus, and the CY12 outlook was reiterated on revenue and margins."
FY12 EPS estimate raised from $2.68 to $2.71.
For an analyst ratings summary and ratings history on VMware click here. For more ratings news on VMware click here.
Shares of VMware closed at $80.29 yesterday, with a 52 week range of $74.69-$118.79.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Wedbush Downgrades XenoPort (XNPT) to Neutral
- Merck's (MRK) Suvorexant Faces Challenges at FDA
- Wells Fargo Downgrades Ruby Tuesday (RT) to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Management ChangesRelated Entities
Needham & Company
Login with Facebook
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!
