Red Hat Price Target Raised to $61.00 at Credit Agricole (RHT)
Analysts at Credit Agricole upped their price target on shares of Red Hat (NYSE:RHT) from $55.00 to $61.00 in a research report issued to clients and investors on Tuesday, Analyst Ratings Network reports. The firm currently has an “outperform” rating on the stock. Credit Agricole’s price target suggests a potential upside of 30.54% from the stock’s previous close.
Red Hat (NYSE:RHT) traded down 11.71% during mid-day trading 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 P/E 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.
RHT has been the subject of a number of other recent research reports. 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. Separately, analysts at Raymond James reiterated a “market perform” rating on shares of Red Hat (NYSE:RHT) in a research note to investors on Tuesday. Finally, analysts at Cowen and Company reiterated a “market perform” rating on shares of Red Hat (NYSE:RHT) in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, down previously from $53.00.
One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target 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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