Merrill Lynch Keeps a Buy Rating on VMware (VMW)

By Austin Angelo

Merrill Lynch analyst Kash Rangan maintained a Buy rating on VMware (VMWResearch Report) on November 25 and set a price target of $190.00. The company’s shares closed last Monday at $161.15.

According to, Rangan is a 5-star analyst with an average return of 12.6% and a 68.8% success rate. Rangan covers the Technology sector, focusing on stocks such as Zoom Video Communications, Salesforce, and Microsoft.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VMware with a $181.20 average price target, a 6.7% upside from current levels. In a report issued on November 22, RBC Capital also reiterated a Buy rating on the stock.

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Based on VMware’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $2.46 billion and net profit of $621 million. In comparison, last year the company earned revenue of $2.2 billion and had a net profit of $334 million.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VMW in relation to earlier this year.

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VMware, Inc. engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.