Collins Stewart Raises Estimates on VMware (VMW) Following Strong Q1 Results
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Price: $142.48 --0%
Rating Summary:
17 Buy, 36 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 8
Rating Summary:
17 Buy, 36 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 8
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Collins Stewart is maintaining its Neutral rating and $92 price target on shares VMware (NYSE: VMW) as the company posted outstanding Q1 results.
The company posted its Q1 results with an EPS of $0.48 and revenue of $844 million. Operating margin was also up to 29.9%, while VNW raised its revenue growth outlook by 350 bps at the midpoint to 24-28%.
The upside was mostly driven by better than expected booking which was up 44% Y/Y, but the firm notes that international market also played a key role as they grew 40$ Y/Y and exceeded 50% of the company's total revenues in the quarter, a first ever.
As a result the firm is raising its 2011 and 2012 EPS estimate by $0.15 to $1.95 and $2.30.
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $85.97 yesterday.
The company posted its Q1 results with an EPS of $0.48 and revenue of $844 million. Operating margin was also up to 29.9%, while VNW raised its revenue growth outlook by 350 bps at the midpoint to 24-28%.
The upside was mostly driven by better than expected booking which was up 44% Y/Y, but the firm notes that international market also played a key role as they grew 40$ Y/Y and exceeded 50% of the company's total revenues in the quarter, a first ever.
As a result the firm is raising its 2011 and 2012 EPS estimate by $0.15 to $1.95 and $2.30.
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $85.97 yesterday.
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