Red Hat Given “Hold” Rating at Susquehanna (RHT)
Red Hat (NYSE:RHT)‘s stock had its “hold” rating reaffirmed by equities researchers at Susquehanna in a research report issued on Tuesday, Analyst Ratings News reports. They currently have a $48.00 price target on the stock. Susquehanna’s price target indicates a potential upside of 10.85% from the company’s current price.
A number of other analysts have also recently weighed in on RHT. Analysts at JPMorgan Chase & Co. cut their price target on shares of Red Hat from $39.00 to $37.00 in a research note to investors on Tuesday. They now have an “underweight” rating on the stock. Separately, analysts at Robert W. Baird cut their price target on shares of Red Hat from $57.00 to $54.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Red Hat from $65.00 to $60.00 in a research note to investors on Tuesday, September 24th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Red Hat currently has an average rating of “Hold” and an average target price of $54.67.
Red Hat (NYSE:RHT) traded down 4.73% on Tuesday, hitting $43.30. The stock had a trading volume of 3,865,527 shares. Red Hat has a 1-year low of $44.31 and a 1-year high of $57.10. The stock’s 50-day moving average is $50.17 and its 200-day moving average is $49.56. The company has a market cap of $8.205 billion and a P/E ratio of 55.43.
Red Hat (NYSE:RHT) last announced its earnings results 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 $1.38 EPS for the current fiscal year.
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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