Red Hat Inc. (NYSE:RHT) received a $88.00 price objective from equities researchers at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Thursday. The firm presently has a a “buy” rating on the open-source software company’s stock. Oppenheimer Holdings Inc.’s price target would suggest a potential upside of 11.21% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Drexel Hamilton restated a “buy” rating and set a $105.00 target price on shares of Red Hat in a research report on Monday, June 20th. Deutsche Bank AG restated a “buy” rating on shares of Red Hat in a research report on Friday, June 17th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Red Hat in a research note on Thursday, June 16th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. Red Hat has a consensus rating of “Buy” and a consensus price target of $89.16.
Shares of Red Hat (NYSE:RHT) opened at 79.13 on Thursday. Red Hat has a 52 week low of $59.59 and a 52 week high of $84.44. The stock’s 50 day moving average is $74.36 and its 200-day moving average is $74.24. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 66.55 and a beta of 1.32.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share for the quarter, topping the Zacks’ 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 earned $599.80 million during the quarter. During the same quarter in the prior year, the company posted $0.47 EPS. Red Hat’s revenue was up 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Red Hat will post $2.22 earnings per share for the current year.
In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 60,780 shares of the company’s stock, valued at approximately $4,426,607.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the executive vice president now directly owns 52,484 shares of the company’s stock, valued at $3,936,300. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Wunderlich Capital Managemnt purchased a new position in Red Hat during the second quarter valued at $137,000. Mizuho Asset Management Co. Ltd. raised its position in Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock valued at $174,000 after buying an additional 1,333 shares during the period. Hills Bank & Trust Co. purchased a new position in Red Hat during the second quarter valued at $222,000. Pacer Advisors Inc. raised its position in Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock valued at $246,000 after buying an additional 331 shares during the period. Finally, Wall Street Associates purchased a new position in Red Hat during the second quarter valued at $247,000. 94.81% of the stock is owned by hedge funds and other institutional investors.
Red Hat Company Profile
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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