VMware announced second-quarter earnings this morning of $34.2 million, or 10 cents per share, crushing its year-ago profit of $15.2 million, or 5 cents per share. Sales during the 3-month period climbed nearly 90% to $296.8 million from $156.4 million.
The security was spun off from EMC Corp. in August at $29 per share. The stock finished the day at $73.70, down 5.4% from Friday's close, but up 154% from its initial public offering price. The security's pullback today was halted by its ascending 10-day moving average in the 73 region.
The equity could still benefit from fresh analyst coverage. Zacks reports that only 2 brokerage firm offering up ratings on the firm, with 1 strong buy and 1 hold.