The Red Hat Inc (RHT) Receives $91.06 Consensus Target Price from Analysts

The Red Hat Inc (RHT) Receives $91.06 Consensus Target Price from Analysts

A number of research analysts have recently issued reports on the stock. CIBC reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Red Hat in a research report on Wednesday, March 29th. Deutsche Bank AG dropped their target price on shares of Red Hat from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, March 28th. Oppenheimer Holdings Inc. set a $94.00 target price on shares of Red Hat and gave the stock a “buy” rating in a research report on Tuesday, March 28th. Citigroup Inc dropped their target price on shares of Red Hat from $105.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, March 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Red Hat in a research report on Wednesday, May 24th. They set a “market perform” rating and a $102.00 target price on the stock.

Shares of Red Hat Inc (NYSE:RHT) have received a consensus rating of “Buy” from the thirty-two analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $91.17.

Red Hat (NYSE:RHT) traded up 0.90% during trading on Wednesday, hitting $91.54. 1,355,136 shares of the company’s stock traded hands. Red Hat has a 12 month low of $68.54 and a 12 month high of $91.79. The stock has a market cap of $16.27 billion, a P/E ratio of 65.86 and a beta of 1.44. The company’s 50 day moving average is $88.10 and its 200-day moving average is $81.46. Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, March 27th. The open-source software company reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. The firm had revenue of $628.80 million for the quarter, compared to the consensus estimate of $618.64 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that Red Hat will post $2.60 earnings per share for the current year.

In other Red Hat news, Director William S. Kaiser sold 25,000 shares of the stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $86.04, for a total transaction of $2,151,000.00. Following the completion of the transaction, the director now owns 120,458 shares of the company’s stock, valued at $10,364,206.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Delisa Alexander sold 311 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $85.75, for a total transaction of $26,668.25. Following the transaction, the executive vice president now directly owns 37,373 shares of the company’s stock, valued at approximately $3,204,734.75. The disclosure for this sale can be found here. Insiders sold 214,874 shares of company stock valued at $18,728,067 in the last three months. 0.76% of the stock is currently owned by insiders. A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Red Hat by 1.4% in the first 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 buying an additional 21 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Red Hat by 0.3% in the first quarter. Mason Street Advisors LLC now owns 24,638 shares of the open-source software company’s stock valued at $2,131,000 after buying an additional 70 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Red Hat by 1.0% in the first quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock valued at $598,000 after buying an additional 70 shares in the last quarter. F&V Capital Management LLC boosted its stake in shares of Red Hat by 2.7% in the first quarter. F&V Capital Management LLC now owns 3,445 shares of the open-source software company’s stock valued at $298,000 after buying an additional 90 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its stake in shares of Red Hat by 0.5% in the first quarter. Advantus Capital Management Inc now owns 17,955 shares of the open-source software company’s stock valued at $1,553,000 after buying an additional 93 shares in the last quarter. 95.36% of the stock is 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RHT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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