Red Hat Receives Average Recommendation of “Buy” from Analysts (NYSE:RHT)
Shares of Red Hat (NYSE:RHT) have received an average recommendation of “Buy” from the twenty-eight analysts that are currently covering the stock, Analyst Ratings Network reports. Four research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $62.58.
In other Red Hat news, EVP Brian Stevens sold 5,885 shares of the company’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $55.00, for a total value of $323,675.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Red Hat to a “buy” rating in a research note on Wednesday, July 9th. Separately, 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, June 19th. Finally, analysts at Susquehanna raised their price target on shares of Red Hat from $54.00 to $57.00 in a research note on Thursday, June 19th.
Red Hat (NYSE:RHT) traded up 1.39% during mid-day trading on Wednesday, hitting $56.93. The stock had a trading volume of 239,725 shares. Red Hat has a 1-year low of $41.89 and a 1-year high of $61.45. The stock has a 50-day moving average of $54.62 and a 200-day moving average of $54.26. The company has a market cap of $10.765 billion and a P/E ratio of 61.03.
Red Hat (NYSE:RHT) last released its 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. On average, analysts predict that Red Hat will post $1.54 earnings per share for the current fiscal year.
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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