Susquehanna Lowers Red Hat Price Target to $48.00 (RHT)
Equities research analysts at Susquehanna lowered their price target on shares of Red Hat (NYSE:RHT) from $50.00 to $48.00 in a research note issued to investors on Tuesday, Analyst Ratings Network reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential upside of 2.72% from the stock’s previous close.
Red Hat (NYSE:RHT) traded down 11.71% during mid-day trading on Tuesday, hitting $46.73. 13,405,794 shares of the company’s stock traded hands. Red Hat has a one year low of $44.92 and a one year 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 $8.846 billion and a P/E ratio of 67.00.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Monday, September 23rd. The company reported $0.35 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.28 earnings per share. Red Hat’s revenue was up 16.1% compared to the same quarter last year. Analysts expect that Red Hat will post $1.35 EPS for the current fiscal year.
A number of other firms have also recently commented on RHT. Analysts at Jefferies Group cut their price target on shares of Red Hat (NYSE:RHT) from $65.00 to $60.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus 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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