Oppenheimer Holdings Inc. set a $88.00 target price on Red Hat Inc. (NYSE:RHT) in a research report released on Thursday morning. The firm currently has a a buy rating on the open-source software company’s stock.
A number of other research analysts also recently issued reports on RHT. Robert W. Baird reiterated a buy rating on shares of Red Hat in a research note on Thursday, June 23rd. Raymond James Financial Inc. reiterated a buy rating on shares of Red Hat in a research note on Thursday, June 23rd. Stifel Nicolaus reiterated a buy rating on shares of Red Hat in a research note on Thursday, June 23rd. Mizuho reiterated a buy rating and issued a $88.00 price target on shares of Red Hat in a research note on Thursday, June 23rd. Finally, Royal Bank Of Canada reiterated a buy rating on shares of Red Hat in a research note on Thursday, June 23rd. Two 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 company. Red Hat has a consensus rating of Buy and an average price target of $89.16.
Shares of Red Hat (NYSE:RHT) opened at 78.74 on Thursday. The stock has a 50 day moving average of $74.45 and a 200-day moving average of $74.38. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 66.22 and a beta of 1.32. Red Hat has a 1-year low of $59.59 and a 1-year high of $84.44.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ 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 business earned $599.80 million during the quarter. During the same period in the previous year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts anticipate that Red Hat will post $2.22 EPS for the current fiscal year.
In related news, EVP Delisa Alexander sold 2,395 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total value of $174,427.85. Following the sale, the executive vice president now directly owns 60,780 shares in the company, valued at approximately $4,426,607.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Cunningham sold 10,000 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $73.14, for a total transaction of $731,400.00. Following the completion of the sale, the executive vice president now owns 64,800 shares in the company, valued at $4,739,472. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Wunderlich Capital Managemnt acquired a new stake in Red Hat during the second quarter valued at approximately $137,000. Mizuho Asset Management Co. Ltd. raised its stake 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 in the last quarter. Hills Bank & Trust Co. acquired a new stake in Red Hat during the second quarter valued at approximately $222,000. Pacer Advisors Inc. raised its stake 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 in the last quarter. Finally, Wall Street Associates acquired a new stake in Red Hat during the second quarter valued at approximately $247,000. Institutional investors and hedge funds own 94.81% of the company’s stock.
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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