The stock of VMware, Inc. (NYSE:VMW) is now priced at $141.28 and the shares are -3.16 points down or -2.19% lower compared to its previous closing price of $144.44. The stock had 1.413 million contracts set over the past session. VMW shares’ daily volume is compared to its average trading volume at 1.443 million shares. However, it has a float of 78.51 million and although its performance was 0.42% over the week, it’s one to watch. Analysts have given the VMW stock a yearly average price target of $175.25 per share. It means the stock’s upside potential is 24.04% with the VMW share price recently placing at $140.9 to $143.24. However, some brokerage firms have priced the stock below the average, including one that has called $149.
The shorts are running away from the VMware, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the VMW shares have declined. Short interest in the stock represents just 9.46% of its float, but the volume has dropped by 0.
In the last trading session, VMware, Inc. (NYSE:VMW) raised by $0.59 over the week and lost -$2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $173.37. The stock recorded its established 52-week high on 11/19/19.
Since 03/17/20, the stock has traded to a low of $86 at 64.28%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.66. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, VMware, Inc.’s two-week RSI is 47.74. This suggests that the stock is neutral at the moment and that VMW shares’ price movement remains stable. The stochastic readings are equally revealing at 63.1% meaning the VMW share price is currently in neutral territory.
Currently, the stock is trading in the green of MACD, with a reading of 1.82. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at RBC Capital Mkts though raised target price of VMW stock from $181 to $185 but maintained Outperform recommendation in their August 28 review. Citigroup analysts see the stock as a Buy, but they also raised the share’s target price from $193 to $200 in a flash note released to investors on August 28. Barclays analysts see the stock as Overweight. Nonetheless, the analysts revised the share prices down on August 28, placing it at $172 from $175.
The average rating for the VMW equity is 2.07 and is currently gathering a bullish momentum. Of 28 analysts tracking VMware, Inc. polled by Reuters, 8 rated VMW as a hold. The remaining 20 analysts were split evenly. However, the split wasn’t equal as a majority (20) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the VMW stock price is 19.26X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 35 below the group’s average of 40.9. VMware, Inc. has its P/E ratio at 7.5, which means that the stock is currently trading at a discount relative to the 13.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for VMware, Inc. (NYSE:VMW) will decrease by about -2.26%, which will see them reach $2810 million. The company’s full-year revenues are, however, expected to increase by about 7.49%, up from $10800 million to $11600 million. VMW’s expected adjusted earnings should drop almost -3.36% to end up at $1.44 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 6.73% to record $6.66/share.