Red Hat Price Target Lowered to $60.00 at Stifel Nicolaus (RHT)
Analysts at Stifel Nicolaus reduced their target price on shares of Red Hat (NYSE:RHT) from $62.00 to $60.00 in a research report issued to clients and investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 13.36% from the stock’s previous close.
Red Hat (NYSE:RHT) opened at 52.93 on Tuesday. Red Hat has a 52-week low of $44.92 and a 52-week high of $57.30. The stock’s 50-day moving average is $51.98 and its 200-day moving average is $49.94. The company has a market cap of $10.020 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. On average, analysts predict that Red Hat will post $1.35 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest downgraded shares of Red Hat (NYSE:RHT) from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday. Separately, analysts at Piper Jaffray Cos. downgraded shares of Red Hat (NYSE:RHT) from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday. Finally, analysts at Mizuho cut their price target on shares of Red Hat (NYSE:RHT) from $65.00 to $58.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock.
One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $54.94.
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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