Your Top Tech Movers in August

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Part 11
Your Top Tech Movers in August PART 11 OF 12

Why VMware Stock Rose Last Month

VMware’s stock rise in August

Hardware technology (QQQ) stock VMware (VMW) rose 16.6% in August 2017 and closed the month at $108.1. VMware is now trading 50% above its 52-week low of $71.81 and marginally below its 52-week high of $108.33.

Of the 34 analysts covering VMware, 21 have issued a “buy” recommendation on the stock, and 13 recommend a “hold.” Analysts have a 12-month average price target $112.02 for VMware and a median target of $112. VMware is trading at a discount of 3.6% to median analyst estimates.

Why VMware Stock Rose Last Month

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VMware announced its fiscal 2Q18 results on August 24, 2017, reporting revenues of $1.9 billion with non-GAAP (generally accepted accounting principles) EPS (earnings per share) of $1.19. VMware beat the analysts’ revenue estimate by $20 million and earnings by $0.04 per share, and the stock has risen ~8% since its fiscal 2Q18 earnings announcement. Its revenue rose 12.4%, while its EPS rose 15% in fiscal 2Q18.

VMware’s revenue expectation

For fiscal 3Q18 (ended October 2017), VMware expects revenues between $1.93 billion and $1.98 billion, with non-GAAP EPS between $1.25 and $1.28. Analysts expect the firm to post revenues of $1.96 billion, with EPS of $1.27 in fiscal 3Q18. In fiscal 3Q17, VMware reported EPS of $1.14.

VMware has beaten its EPS estimate for the past four quarters. The firm beat its EPS estimate by 3.5% in fiscal 2Q18, by 4.2% in fiscal 1Q18, by 2.1% in fiscal 4Q17, and by 3.6% in fiscal 3Q17, reporting EPS of $1.19, $0.99, $1.43 and $1.14, respectively, during those quarters.


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