VMware Reports Solid 3Q Results; Increases Full Fiscal Year 2016 Guidance; Raising FVE to $70
VMware’s third-quarter fiscal 2016 results came in at the high end of management’s guidance and surpassed our expectations. The strong performance was driven by solid license growth in products such as NSX, vSAN, and VxRail due to customers doubling down on VMware’s core technologies. As a result of VMWare’s strong near-term results, we will increase our fair value estimate to $70 per share from $65 per share for this narrow moat-rated company. Nevertheless, in our view, the shares remain overva...VMware is engaged in the development and application of technologies with x86 server-based computing, separating application software from the underlying hardware. The company's product and service solutions are organized into three main product groups: Software-Defined Data Center, which is designed to transform the data center into an on-demand service that addresses application requirements; Hybrid Cloud Computing, which is comprised of VMware Cloud Provider Program and VMware Cloud Services; and End-User Computing solution, which consists of VMware Workspace ONE, its digital workspace platform, that includes Unified Endpoint Management and VMware Horizon application and desktop virtualization.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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