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Weakness Seen in VMware (VMW): Stock Tumbles 9.2%

Zacks Equity Research

VMware, Inc. (VMW) saw a big move last session, as the company’s shares fell over 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $99.2 to $111.8 in the past one-month time frame.
This Software company has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
VMW currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Investors interested in the Computer Software industry may consider better-ranked stocks like Manhattan Associates, Inc. (MANH), Adobe Systems Inc. (ADBE) and Pegasystems Inc. (PEGA). While Manhattan Associates carries a Zacks Rank #1 (Strong Buy), Adobe and Pegasystems hold a Zacks rank #2 (Buy).
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