Red Hat Price Target Lowered to $60.00 at Jefferies Group (RHT)
Analysts at Jefferies Group dropped their price objective on shares of Red Hat (NYSE:RHT) from $65.00 to $60.00 in a research report issued to clients and investors on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 28.40% from the stock’s previous close.
Shares of Red Hat (NYSE:RHT) traded down 11.71% on Tuesday, hitting $46.73. 13,405,894 shares of the company’s stock traded hands. Red Hat has a 52-week low of $44.92 and a 52-week high of $57.30. The stock has a 50-day moving average of $51.98 and a 200-day moving average of $49.94. The company has a market cap of $8.846 billion and a price-to-earnings ratio of 67.00.
Red Hat (NYSE:RHT) last released its earnings data on Monday, September 23rd. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.02. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $372.10 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts expect that Red Hat will post $1.35 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Agricole raised their price target on shares of Red Hat (NYSE:RHT) from $55.00 to $61.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “sell” rating on shares of Red Hat (NYSE:RHT) in a research note to investors on Tuesday. They now have a $39.00 price target on the stock. Finally, analysts at Raymond James reiterated a “market perform” rating on shares of Red Hat (NYSE:RHT) in a research note to investors on Tuesday.
One analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the stock. Red Hat currently has a consensus rating of “Hold” and an average target price of $54.90.
Red Hat, Inc (NYSE:RHT) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.
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