Red Hat Now Covered by JMP Securities (RHT)
JMP Securities initiated coverage on shares of Red Hat (NYSE:RHT) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $68.00 price target on the stock. JMP Securities’ target price points to a potential upside of 14.52% from the company’s current price.
A number of other analysts have also recently weighed in on RHT. Analysts at Morgan Stanley upgraded shares of Red Hat from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. They now have a $69.00 price target on the stock. Separately, analysts at Jefferson Research downgraded shares of Red Hat from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 10th. Finally, analysts at Zacks upgraded shares of Red Hat from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, December 25th. They now have a $59.10 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the company. Red Hat has an average rating of “Buy” and a consensus price target of $58.66.
Shares of Red Hat (NYSE:RHT) traded down 0.32% during mid-day trading on Tuesday, hitting $59.19. 1,865,044 shares of the company’s stock traded hands. Red Hat has a 52-week low of $41.89 and a 52-week high of $59.94. The stock’s 50-day moving average is $52.06 and its 200-day moving average is $49.15. The company has a market cap of $11.219 billion and a P/E ratio of 65.25.
Red Hat (NYSE:RHT) last announced its earnings results on Thursday, December 19th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.07. The company had revenue of $397.00 million for the quarter, compared to the consensus estimate of $383.13 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts expect that Red Hat will post $1.47 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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