Brokerages Set Red Hat Inc (NYSE:RHT) Target Price at $179.14

Red Hat Inc (NYSE:RHT) has been given an average recommendation of “Hold” by the twenty-one brokerages that are currently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $179.14.

A number of research analysts have issued reports on RHT shares. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Robert W. Baird cut their target price on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, William Blair restated a “buy” rating on shares of Dynavax Technologies in a research report on Friday, June 21st.

NYSE RHT remained flat at $$187.71 on Tuesday. 999,351 shares of the company traded hands, compared to its average volume of 1,591,676. The company’s fifty day simple moving average is $186.80. The company has a market capitalization of $33.43 billion, a P/E ratio of 67.28, a P/E/G ratio of 3.98 and a beta of 0.45. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.11. Red Hat has a 1-year low of $115.31 and a 1-year high of $189.14.



Red Hat (NYSE:RHT) last issued its quarterly earnings results on Thursday, June 20th. The open-source software company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.14. The business had revenue of $934.10 million for the quarter, compared to the consensus estimate of $931.58 million. Red Hat had a net margin of 13.26% and a return on equity of 36.67%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Equities research analysts anticipate that Red Hat will post 3.14 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Argentiere Capital AG acquired a new position in Red Hat during the 4th quarter valued at about $3,513,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Red Hat in the 4th quarter valued at about $1,756,000. TT International increased its stake in shares of Red Hat by 58.2% in the 1st quarter. TT International now owns 69,600 shares of the open-source software company’s stock valued at $12,715,000 after acquiring an additional 25,600 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Red Hat in the 4th quarter valued at about $14,929,000. Finally, Sigma Planning Corp increased its stake in shares of Red Hat by 6.0% in the 1st quarter. Sigma Planning Corp now owns 2,364 shares of the open-source software company’s stock valued at $432,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 85.75% of the company’s stock.

About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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Analyst Recommendations for Red Hat (NYSE:RHT)

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