Researchers at  Wunderlich cut the firm’s target price on VMware from $120.00 to $100.00 in a report sent out this week ahead of the virtualization software maker’s upcoming earnings call on July 23^rd. They retained a buy rating though, and other analysts’ also revised their take in recent months.

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of VMware in a research note to investors last week. Separately, analysts at Oppenheimer noted an “outperform” rating on shares of VMware in a research note to investors a few days later. And analysts at Mizuho upgraded shares of VMware from a “neutral” rating to a “buy” rating in a research note to investors on Friday, June 1st.

Investors don’t have too much to worry about, at least from a historical point of view.

Last quarter the company reported a 52 percent increase in revenue. International sales were at an all time high with a 54 percent stake of the $482 million that was reported in Q1, and that in turn helped boost VMware’s profit as well. The vendor managed to exceed 1Q2011’s $126 million or 29 cents a share with a fair margin at $191.4 million or 44 cents a share.

License sales grew up by $20 million, bookings by 20 percent, and VMware’s services business became 35 percent more profitable within a period of 12 months.

Competitor Citrix also reported positive results for the last quarter. The VDI giant managed to beat analysts’ expectations with earnings of 39 cents per share and revenue of $589.5 million. A lot of that success was credited to the NetScaler VDI delivery platform, a predict that’s relatively new to the market that has become very popular in a short period of time.