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Shares of Red Hat (NYSE:RHT) have received a consensus recommendation of “Buy” from the twenty-nine ratings firms that are covering the company, American Banking & Market News reports. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $62.58.

Red Hat (NYSE:RHT) traded down 1.83% on Friday, hitting $54.10. 1,052,820 shares of the company’s stock traded hands. Red Hat has a 52-week low of $41.89 and a 52-week high of $61.45. The stock’s 50-day moving average is $50.3 and its 200-day moving average is $53.54. The company has a market cap of $10.244 billion and a price-to-earnings ratio of 59.26. Red Hat also was the recipient of some unusual options trading on Wednesday. Traders purchased 22,908 call options on the company. This is an increase of 813% compared to the average daily volume of 2,508 call options.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.01. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $413.97 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Analysts expect that Red Hat will post $1.54 EPS for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Credit Agricole raised their price target on shares of Red Hat from $70.00 to $71.00 in a research note on Thursday. Separately, analysts at Susquehanna raised their price target on shares of Red Hat from $54.00 to $57.00 in a research note on Thursday. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Red Hat in a research note on Thursday. They now have a $54.00 price target on the stock, up previously from $49.00.

Red Hat, Inc (NYSE:RHT) is a global provider of open source software solutions, using a community-powered approach to develop and offer operating system, middleware, virtualization, storage and cloud technologies.

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