Benzinga | Feb 2, 2021 01:09PM EST

Why VMware's Stock Is Trading Higher Today

VMware (NYSE:VMW) shares are trading higher in sympathy with Dell Technologies after Goldman Sachs upgraded the stock from Neutral to Buy. Goldman mentioned positive commentary related to the VMWare spin-off.

Dell owns a majority stake in VMware.

VMware is a majority-owned subsidiary of Dell. The software provider operates in the three segments of licenses, maintenance, and professional services. Its customers include enterprises utilizing data centers, end-user computing, cloud providers, and software-defined networking.

VMware's stock was up 3.31% at $142.23. The stock has a 52-week high of $163.17 and a 52-week low of $86.