A number of research firms have changed their ratings and price targets for Red Hat (NYSE: RHT):

  • 10/2/2017 – Red Hat had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $130.00 price target on the stock.
  • 9/27/2017 – Red Hat had its “outperform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $124.00 price target on the stock, up previously from $120.00.
  • 9/27/2017 – Red Hat had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $120.00 price target on the stock.
  • 9/26/2017 – Red Hat had its “hold” rating reaffirmed by analysts at Robert W. Baird.
  • 9/26/2017 – Red Hat had its price target raised by analysts at Jefferies Group LLC to $100.00. They now have a “hold” rating on the stock.
  • 9/26/2017 – Red Hat had its price target raised by analysts at Stifel Nicolaus from $115.00 to $125.00. They now have a “buy” rating on the stock.
  • 9/26/2017 – Red Hat had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $98.00 price target on the stock, down previously from $120.00.
  • 9/26/2017 – Red Hat had its “overweight” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $117.00 price target on the stock, up previously from $110.00.
  • 9/26/2017 – Red Hat had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $128.00 price target on the stock, up previously from $107.00.
  • 9/26/2017 – Red Hat had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $113.00 price target on the stock, up previously from $111.00.
  • 9/26/2017 – Red Hat had its “neutral” rating reaffirmed by analysts at Bank of America Corporation. They now have a $115.00 price target on the stock, up previously from $105.00.
  • 9/26/2017 – Red Hat had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $125.00 price target on the stock, up previously from $109.00.
  • 9/26/2017 – Red Hat had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $120.00 price target on the stock, up previously from $110.00.
  • 9/26/2017 – Red Hat had its price target raised by analysts at Barclays PLC from $120.00 to $122.00. They now have an “overweight” rating on the stock.
  • 9/26/2017 – Red Hat had its “market perform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $136.00 price target on the stock, up previously from $115.00.
  • 9/26/2017 – Red Hat had its price target raised by analysts at Oppenheimer Holdings, Inc. from $105.00 to $125.00. They now have an “outperform” rating on the stock.
  • 9/26/2017 – Red Hat had its “overweight” rating reaffirmed by analysts at KeyCorp. They now have a $125.00 price target on the stock, up previously from $121.00.
  • 9/25/2017 – Red Hat had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $130.00 price target on the stock, up previously from $127.00.
  • 9/24/2017 – Red Hat had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $120.00 price target on the stock.
  • 9/21/2017 – Red Hat was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $120.00 price target on the stock. According to Zacks, “Red Hat is benefiting from strong deal win, improving recurring revenues and cross-selling of cloud-based technology. We believe that Amazon Web Services-OpenShift partnership extension reflects strength in Red Hat’s solutions and platform. The acquisition of Codenvy will boost its position in the hybrid cloud computing market. Further, the company has a strong customer as well as partner base that include the likes of IBM, Intel, Dell Technologies, Google cloud platform and Microsoft Azure. We note that the company has outperformed the industry on a year-to-date basis. However, intensifying competition, growing U.S. government exposure and foreign exchange volatility are some of the headwinds, in our view.”
  • 9/20/2017 – Red Hat had its price target raised by analysts at Royal Bank Of Canada from $106.00 to $121.00. They now have an “outperform” rating on the stock.
  • 9/20/2017 – Red Hat had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $115.00 price target on the stock.
  • 9/19/2017 – Red Hat had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $127.00 price target on the stock. They wrote, “We believe Red Hat will slightly beat our 2Q:FY18 revenue estimate of $699.6 million (up 17% YoY; Street is at $699.6 million) and our EPS projection of $0.67 (Street is also at $0.67). Our 2Q:FY18 revenue estimate represents 3% QoQ growth (i.e., the 62nd consecutive quarter of sequential revenue growth) but slightly below the five-year average of up 4%.””
  • 9/19/2017 – Red Hat had its “outperform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $120.00 price target on the stock, up previously from $115.00.
  • 9/18/2017 – Red Hat had its price target raised by analysts at Barclays PLC from $105.00 to $120.00. They now have an “overweight” rating on the stock.
  • 9/13/2017 – Red Hat had its price target raised by analysts at JMP Securities from $107.00 to $122.00. They now have an “outperform” rating on the stock.
  • 9/8/2017 – Red Hat had its “overweight” rating reaffirmed by analysts at KeyCorp. They now have a $121.00 price target on the stock.
  • 9/6/2017 – Red Hat is now covered by analysts at Moffett Nathanson. They set a “buy” rating on the stock.
  • 9/5/2017 – Red Hat is now covered by analysts at Credit Suisse Group. They set a “neutral” rating and a $111.00 price target on the stock.
  • 8/27/2017 – Red Hat had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $100.00 price target on the stock.
  • 8/22/2017 – Red Hat was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Red Hat is benefiting from strong deal win, improving recurring revenues and cross-selling of cloud-based technology. We believe that Amazon Web Services-OpenShift partnership extension reflects strength in Red Hat’s solutions and platform. The acquisition of Codenvy will boost its position in the hybrid cloud computing market. Further, the company has a strong customer as well as partner base that include the likes of IBM, Intel, Dell Technologies, Google cloud platform and Microsoft Azure. We note that the company has outperformed the industry on a year-to-date basis. However, intensifying competition, growing U.S. government exposure and foreign exchange volatility are some of the headwinds, in our view.”

Red Hat, Inc. (NYSE:RHT) traded up 0.19% during midday trading on Tuesday, hitting $121.12. The stock had a trading volume of 1,193,883 shares. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $122.31. The company’s 50 day moving average is $110.14 and its 200 day moving average is $97.17. The company has a market cap of $21.43 billion, a price-to-earnings ratio of 72.48 and a beta of 1.25.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities analysts anticipate that Red Hat, Inc. will post $2.79 earnings per share for the current fiscal year.

In other news, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the transaction, the chief executive officer now directly owns 392,979 shares of the company’s stock, valued at $43,679,615.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total transaction of $152,069.58. Following the transaction, the chief financial officer now directly owns 9,913 shares in the company, valued at $991,101.74. The disclosure for this sale can be found here. Insiders have sold 27,521 shares of company stock worth $3,092,930 over the last ninety days. Insiders own 0.66% of the company’s stock.

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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