Red Hat Inc. (NYSE:RHT)‘s stock had its “buy” rating reissued by research analysts at Barclays PLC in a note issued to investors on Thursday.

The analysts wrote, “We continue to like the long- term story and believe the shares look attractive on a cash flow basis. Billings Growth and Large Deals Strong, App Dev Could Have Been Better: Billings grew 20% y/y this quarter, the strongest growth since 4Q14. We believe short term billings grew 17%, despite the longer duration, which is quite healthy. Deals over $1mn were up 60% y/y, underscoring Red Hat’s continued expansion with customers.””

Other equities analysts have also issued research reports about the stock. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective on shares of Red Hat in a report on Monday, June 20th. Deutsche Bank AG reiterated a “buy” rating on shares of Red Hat in a report on Friday, June 17th. Royal Bank Of Canada reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 16th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $88.00 price objective on shares of Red Hat in a report on Monday, June 6th. Finally, Vetr lowered shares of Red Hat from a “strong-buy” rating to a “buy” rating and set a $84.24 price objective on the stock. in a report on Wednesday, June 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $88.06.

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Shares of Red Hat (NYSE:RHT) traded up 4.8545% during midday trading on Thursday, reaching $80.7799. 3,764,078 shares of the company’s stock traded hands. Red Hat has a 12 month low of $59.59 and a 12 month high of $84.44. The stock has a 50-day moving average price of $74.08 and a 200 day moving average price of $74.11. The firm has a market cap of $14.63 billion, a PE ratio of 70.8596 and a beta of 1.32.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Red Hat had a net margin of 9.93% and a return on equity of 18.27%. The firm had revenue of $599.80 million for the quarter. During the same quarter in the prior year, the company posted $0.47 EPS. Red Hat’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities research analysts predict that Red Hat will post $2.21 earnings per share for the current year.

In related news, EVP Michael Cunningham sold 10,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the executive vice president now owns 52,484 shares of the company’s stock, valued at approximately $3,936,300. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total transaction of $174,427.85. Following the transaction, the executive vice president now directly owns 60,780 shares in the company, valued at approximately $4,426,607.40. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in RHT. Nomura Asset Management Co. Ltd. raised its position in Red Hat by 3.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,310 shares of the open-source software company’s stock valued at $1,599,000 after buying an additional 600 shares in the last quarter. Norges Bank purchased a new stake in shares of Red Hat during the fourth quarter worth about $112,063,000. DnB Asset Management AS purchased a new stake in shares of Red Hat during the first quarter worth about $1,151,000. Granite Investment Partners LLC raised its stake in shares of Red Hat by 1.2% in the first quarter. Granite Investment Partners LLC now owns 90,664 shares of the open-source software company’s stock worth $6,755,000 after buying an additional 1,031 shares during the period. Finally, Aperio Group LLC raised its stake in shares of Red Hat by 10.1% in the first quarter. Aperio Group LLC now owns 44,483 shares of the open-source software company’s stock worth $3,314,000 after buying an additional 4,079 shares during the period. 94.81% of the stock is currently owned by institutional investors.

About Red Hat

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.

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