Jefferies Downgrades VMware (VMW) to Hold
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Price: $76.85 -9.93%
Rating Summary:
11 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
11 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies downgraded VMware (NYSE: VMW) from Buy to Hold with a price target of $90 (down from $100).
The firm comments, "Our channel work and guidance led us to believe there would be more upside to numbers. We are concerned about the lack of a license beat (for the first time in 9 Qs). Billings/ CFFO growth was impressive, but we model more moderation ahead. Overall we see risk of less upside to ests than previously assumed and given valuation, that's not enough for us. We downgrade to Hold."
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $89.52 yesterday.
The firm comments, "Our channel work and guidance led us to believe there would be more upside to numbers. We are concerned about the lack of a license beat (for the first time in 9 Qs). Billings/ CFFO growth was impressive, but we model more moderation ahead. Overall we see risk of less upside to ests than previously assumed and given valuation, that's not enough for us. We downgrade to Hold."
For more ratings news on VMware click here and for the rating history of VMware click here.
Shares of VMware closed at $89.52 yesterday.
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