If you currently own VMware stock or just work and play in VMware's world, I'm sure you're keeping a watchful eye on their stock price. The Motley Fool makes it sound like a great buying opportunity, but UBS analyst Heather Bellini dropped her rating of the stock from "Neutral" to "Sell", and she cut her rating on the stock from $21 down to $15.
Over the last 52 weeks, the stock has ranged from a low of $18.30 to a high of $102.74. VMware stock has been showing support around $17.86 and resistance in the $22.34 range.
Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for VMW.
Bellini says that consensus license growth expectations for the 4th Quarter and 2009 for VMware are “too aggressive” based on her checks on end-market demand. She cut her estimates for both periods. Bellini sees VMW at risk of license deal push-outs at the end of the quarter, given that the company tends to have back-end loaded quarters.
VMW closed down to finish off Friday at $18.94.