Red Hat, Inc. (NYSE:RHT) has been given a consensus recommendation of “Buy” by the thirty-six research firms that are presently covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $99.99.

Several equities research analysts recently weighed in on RHT shares. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $96.00) on shares of Red Hat in a research report on Thursday, June 22nd. Piper Jaffray Companies started coverage on shares of Red Hat in a research report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Zacks Investment Research cut shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. MKM Partners reaffirmed a “neutral” rating and set a $98.00 price objective (up previously from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Finally, Goldman Sachs Group, Inc. (The) upped their price objective on shares of Red Hat from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st.

Shares of Red Hat (RHT) opened at 107.12 on Friday. The company’s 50 day moving average is $101.79 and its 200-day moving average is $91.94. The firm has a market cap of $19.01 billion, a PE ratio of 73.37 and a beta of 1.24. Red Hat has a 12 month low of $68.54 and a 12 month high of $108.09.

Red Hat (NYSE:RHT) last announced its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The company had revenue of $677 million during the quarter, compared to analysts’ expectations of $647.42 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Red Hat’s quarterly revenue was up 19.2% on a year-over-year basis. Equities research analysts predict that Red Hat will post $2.69 EPS for the current year.

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In related news, Director William S. Kaiser sold 4,006 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $96.43, for a total value of $386,298.58. Following the completion of the sale, the director now directly owns 91,808 shares of the company’s stock, valued at approximately $8,853,045.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric Ryan Shander sold 1,521 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total value of $152,069.58. Following the completion of the sale, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at $991,101.74. The disclosure for this sale can be found here. Insiders sold a total of 44,087 shares of company stock valued at $4,265,012 over the last three months. 0.66% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Red Hat by 1.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock valued at $132,000 after purchasing an additional 21 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of Red Hat by 0.3% during the 1st quarter. Mason Street Advisors LLC now owns 24,638 shares of the open-source software company’s stock valued at $2,131,000 after purchasing an additional 70 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Red Hat by 1.0% during the 1st quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock valued at $598,000 after purchasing an additional 70 shares during the last quarter. Finally, Advantus Capital Management Inc increased its position in shares of Red Hat by 0.5% during the 1st quarter. Advantus Capital Management Inc now owns 17,955 shares of the open-source software company’s stock valued at $1,553,000 after purchasing an additional 93 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Red Hat (NYSE:RHT)

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