Analysts at RBC Capital commented on VMware, Inc. (NYSE:VMW), which saw its share price increase around 8% since the start of the year, following their call with CEO Raghu Raghuram and CFO Zane Rowe.

During the call management highlighted key themes surrounding the company's increasing market opportunity and the growth of its Subscription and SaaS (S&S) offerings as the industry moves into a new phase of digital transformation. Management remains bullish on their S&S product portfolio and its rate of adoption, breaking down their offerings into three buckets: S&S products, products that can be sold either on a perpetual basis or S&S, and products not yet available as a S&S offering. With this as a backdrop, management is optimistic about the receptivity of their portfolio as the company doubles down on its S&S go-to-market focus.