Needham & Company Maintains a 'Buy' on VMware (VMW); Adjusting FY12 EPS and Price 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: 12 | Down: 23 | New: 22
Rating Summary:
17 Buy, 36 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Buy' on VMware (NYSE: VMW) price target cut from $120 to $105.
Needham analyst says, "The VMware SeptQ results were strong, as anticipated. The outlook for DecQ and the CY12 period, however, was cautious due to concerns about the macro environment. We would note VMW tends to guide conservatively, and that SeptQ revenue was strong with US +22% y/y and International +42% y/y – further, federal was above expectations. That said, the guidance for 4Q was only marginally above consensus revenue, and was a let-down from last conference call with strong JuneQ performance and a big raise to SeptQ guidance...Our estimates for CY12 change very little; CY12 revenue remains 4.375B, EPS goes from 2.43 to 2.46."
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $89.52 yesterday.
Needham analyst says, "The VMware SeptQ results were strong, as anticipated. The outlook for DecQ and the CY12 period, however, was cautious due to concerns about the macro environment. We would note VMW tends to guide conservatively, and that SeptQ revenue was strong with US +22% y/y and International +42% y/y – further, federal was above expectations. That said, the guidance for 4Q was only marginally above consensus revenue, and was a let-down from last conference call with strong JuneQ performance and a big raise to SeptQ guidance...Our estimates for CY12 change very little; CY12 revenue remains 4.375B, EPS goes from 2.43 to 2.46."
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $89.52 yesterday.
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