Forecast Of The Day: VMware’s Maintenance and Service Revenue

+28.44%
Upside
114
Market
146
Trefis
VMW: VMware logo
VMW
VMware

What?

VMware’s (NYSE:VMW) Maintenance and Service Revenue rose from $4.75 billion in 2020 to $5.11 billion in 2021. Trefis expects the metric to grow steadily to around $5.6 billion by 2023.

Why?

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Maintenance and Service Revenues are largely recurring and we expect growth to be driven by VMware’s large and rising base of customers.

So What?

We think VMW stock is undervalued at current levels. We value VMW at about $145 per share, 25% ahead of the current market price.

See Our Complete Analysis For VMware

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Returns Mar 2022
MTD [1]
2022
YTD [1]
2017-22
Total [2]
 VMW Return -1% 0% 48%
 S&P 500 Return 5% -3% 106%
 Trefis MS Portfolio Return 3% -7% 266%

[1] Month-to-date and year-to-date as of 3/31/2022
[2] Cumulative total returns since the end of 2016

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