VMware Q2 Profit Tops Estimate

Shares of Vmware, Inc. The 52-week low of the share price is at $73.65.

Genetic Technologies Limited (ADR) (NASDAQ:GENE) reported the surge of +3.42%, after closing price for the day was $3.63.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of VMware from a hold rating to a buy rating and set a $94.00 price target on the stock in a research note on Tuesday, July 14th. Analysts at FBR & Co. reiterated a hold rating and set a $90.00 price target on shares of VMware in a research note on Wednesday. Analysts at Jefferies Group reiterated a buy rating on shares of VMware in a research note on Wednesday.

Buoyed by the strong results for the quarter, VMware, Inc. They set a neutral rating and a $95.00 price target on the stock. 12 analysts have rated the company as a strong buy. VMware now has an average rating of Buy and a consensus target price of $95.73. The Insider selling transaction had a total value worth of $80,537. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Maritz sold 271,757 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The disclosure for this sale can be found here. (NYSE:VMW) as the stock opened the most recent session at 87.300 and at the time of writing the last Bid was at 86.755.

UPDATE: During the shareholders conference call on Tuesday, VMware responded with a Q3 revenue guidance range of $1.645 billion to $1.665 billion, up nine to 10 percent year-over-year, and earnings between 98 cents and $1.00 per share. The stock’s 50-day moving average is $86.64 and its 200-day moving average is $84.51. The virtualization software provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. Revenues for the quarter rose to a high of $1.597 billion and could have been higher had the company not incurred a $75.5 million charge from the Justice Department. The company’s non-GAAP net revenues (after adjusting $76 million in payment made for the GSA settlement) were up by over 9% on a year-over-year basis to $1.59 million, which was in line with the company’s expectations.

In looking at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $3.15.

VMware, Inc.is a provider of virtualization infrastructure solutions. Once created, these internal computing infrastructures, or clouds, can be dynamically linked by its customers to external computing resources that run on a VMware virtualization platform. The Companys solutions enable organizations to aggregate multiple servers, storage infrastructure and networks together into shared pools of capacity that can be allocated dynamically, securely and reliably to applications as needed, increasing hardware utilization and reducing spending.