VMWare Bi-Weekly Blog
VMWare has traded relatively poorly as compared to previous performance. The stock opened the month at $79 and has traded in that range for the current month of September. The price range for the month is the same range as the stock's 52 week low of $78. A cause for concern considering the stock was trading at above $90 for sometime during August. Despite the stock's poor performance, equity research company has upgraded the stock to a buy citing double digit organic sales growth as well as VMWare's success in fending off competition in many of the company's markets. I am confident the stock is currently undervalued and with M&A talks dying down with parent company EMC the stock should pick up again.
Price of VMWare at the time of the blog - $80.46 reflecting a daily gain of 0.60%.
No comments:
Post a Comment