Needham & Company Reiterates a 'Buy' on VMware (VMW); Raise Estimates and Target
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Price: $142.48 --0%
Rating Summary:
17 Buy, 36 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 36 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on VMware (NYSE: VMW), PT raised from $106 to $120.
Needham analyst says, "The VMware JuneQ results were strong across the board, with solid performance across geographies and healthy 25% contribution to bookings from ELA license agreements. The secular trend of virtualization, data center refresh, and private/public cloud build-out is driving results for VMW, and we suspect this “secular strength” helped VMW power through a questionable EMEA better than other software leaders this quarter...We believe in an environment where “cloud” is still a coveted theme for investors, coupled with recent shaky performance from Riverbed (Nasdaq: RVBD), Fortinet (Nasdaq: FTNT) and other favorites, investors may be willing to pay a premium multiple for VMW who has demonstrated strong execution." (FY11 EPS estimate increased from $1.98 to $2.08 and FY12 from $2.31 to $2.43)
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $106.02 yesterday.
Needham analyst says, "The VMware JuneQ results were strong across the board, with solid performance across geographies and healthy 25% contribution to bookings from ELA license agreements. The secular trend of virtualization, data center refresh, and private/public cloud build-out is driving results for VMW, and we suspect this “secular strength” helped VMW power through a questionable EMEA better than other software leaders this quarter...We believe in an environment where “cloud” is still a coveted theme for investors, coupled with recent shaky performance from Riverbed (Nasdaq: RVBD), Fortinet (Nasdaq: FTNT) and other favorites, investors may be willing to pay a premium multiple for VMW who has demonstrated strong execution." (FY11 EPS estimate increased from $1.98 to $2.08 and FY12 from $2.31 to $2.43)
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $106.02 yesterday.
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