VMware is a 'hybrid monster' in cloud computing, analyst says, and its stock will climb

VMware CEO Pat Gelsinger speaks at the company's VMworld conference in San Francisco in 2012.
Kim Kulish | Corbis News | Getty Images

Piper Jaffray began covering shares of VMware on Tuesday with an overweight rating, saying the cloud computing company is a best in class 'hybrid monster' whose stock will climb more than 13% from here.

Hybrid cloud computing is a subset of the broader information technology sector. Hybrid cloud companies bridge the gap between a private, locally-based cloud system and a public, third-party cloud service.