Several brokerages have updated their recommendations and price targets on shares of Red Hat (NYSE: RHT) in the last few weeks:

  • 9/15/2016 – Red Hat had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $90.00 price target on the stock. They wrote, “Wednesday, September 21st. We expect that the company will report healthy top and bottom line results as it continues to benefit from a stable core RHEL business and generally strong adoption of its faster growth, emerging product offerings. However, FX could have a moderate impact. Results from our most recent VAR survey also came back slightly more bullish than last quarter; reseller commentary regarding new product adoption trends were positive, which bodes well for the long term investment thesis, in our view. We reiterate our OW rating and $90 price target. The growth vs. margin tradeoff: Our top-line estimates for the quarter, as well as for year, imply that Red Hat maintains a low to mid teens growth trajectory, while adjusted operating margins remain flat to slightly down, albeit impacted by recent acquisitions. We believe that further investments in growth areas should be expected given the company’s growth opportunities, although meaningful margin improvement is possible longer term as OpenShift and OpenStack achieve greater scale.””
  • 9/14/2016 – Red Hat was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $81.54 price target on the stock.
  • 9/14/2016 – Red Hat had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $88.00 price target on the stock.
  • 9/8/2016 – Red Hat was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $81.54 price target on the stock.
  • 8/22/2016 – Red Hat was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $82.50 price target on the stock.
  • 8/13/2016 – Red Hat had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $95.00 price target on the stock.
  • 8/8/2016 – Red Hat was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $84.60 price target on the stock.

Red Hat Inc. (NYSE:RHT) traded up 0.84% during midday trading on Wednesday, reaching $76.42. 733,814 shares of the company traded hands. The stock has a market capitalization of $13.84 billion, a P/E ratio of 67.04 and a beta of 1.32. The company has a 50 day moving average of $73.96 and a 200-day moving average of $74.09. Red Hat Inc. has a 12-month low of $59.59 and a 12-month high of $84.44.

In related news, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the transaction, the executive vice president now owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Cunningham sold 10,000 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $73.14, for a total value of $731,400.00. Following the completion of the transaction, the executive vice president now directly owns 64,800 shares of the company’s stock, valued at approximately $4,739,472. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

5 Day Chart for NYSE:RHT

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