Codestone

Category: Virtualisation

Virtualisation software provider VMware appears to be going through a prosperous patch as its share prices continue to soar.

The company’s shares are trading very close to their 52-week high at $71.34 (£48.20), Traders Huddle reports.

Analysts are raising their targets for the company as they expect to see a strong performance from the virtual technology firm, the source noted.

It observed Broadpoint AmTech has increased its current VMware targets.

The research firm has upped its estimates for the virtualisation provider from $65 (£44) to $85 (£57).

It stated it expects the company to continue to thrive as the virtualisation market has proven to be "alive and well".

VMware was recently named as a frontrunner in the field of virtualisation by Network World reporter Ann Bednarz.

The journalist added Citrix and Microsoft are both looking to expand the reach of their virtual products, but VMware "remains the one to beat".

Posted by Jack Gilbert