Needham & Company Reiterates a 'Buy' on VMware (VMW); Raising Estimates & 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: 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) price target raised from $105 to $115.
Needham analyst says, "In our view, the strong performance in DecQ and outlook is based on the “core” nature of VMW to the trend of data center refresh and private cloud buildout. Our recent field discussions suggest the build-out phase of private cloud is still very early; looking ahead, VMW has possible revenue catalysts for CY13 based on (a) the ELA license deals in CY12 having a low “start point” and likely improving in CY13, and (b) add-on license in addition to vSphere, as clouds are built (mgmt tools now are only 10% new license, and should grow). We continue to view VMware as a core holding in a strong secular theme of virtualization."
Needham raises FY12 EPS estimate from $2.46 to $2.61.
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 $86.00 yesterday.
Needham analyst says, "In our view, the strong performance in DecQ and outlook is based on the “core” nature of VMW to the trend of data center refresh and private cloud buildout. Our recent field discussions suggest the build-out phase of private cloud is still very early; looking ahead, VMW has possible revenue catalysts for CY13 based on (a) the ELA license deals in CY12 having a low “start point” and likely improving in CY13, and (b) add-on license in addition to vSphere, as clouds are built (mgmt tools now are only 10% new license, and should grow). We continue to view VMware as a core holding in a strong secular theme of virtualization."
Needham raises FY12 EPS estimate from $2.46 to $2.61.
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 $86.00 yesterday.
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