Red Hat (RHT) Given New $164.00 Price Target at Raymond James Financial

Red Hat (NYSE:RHT) had its price target raised by analysts at Raymond James Financial from $139.00 to $164.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the open-source software company’s stock. Raymond James Financial’s target price would suggest a potential upside of 10.89% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup reiterated a “buy” rating and issued a $148.00 target price on shares of Red Hat in a research note on Wednesday, December 13th. Barclays reiterated a “buy” rating and issued a $145.00 target price on shares of Red Hat in a research note on Wednesday, December 13th. Mizuho raised their target price on shares of Red Hat from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th. Cowen reiterated a “buy” rating and issued a $136.00 target price on shares of Red Hat in a research note on Monday, December 11th. Finally, Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $131.78.

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Shares of Red Hat stock opened at $147.90 on Thursday. Red Hat has a one year low of $81.92 and a one year high of $157.22. The stock has a market cap of $27,356.02, a PE ratio of 80.82, a P/E/G ratio of 4.10 and a beta of 1.06. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53.

Red Hat (NYSE:RHT) last issued its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business had revenue of $747.98 million during the quarter, compared to the consensus estimate of $734.69 million. During the same period last year, the business posted $0.61 EPS. Red Hat’s revenue was up 21.6% on a year-over-year basis. equities analysts predict that Red Hat will post 2.08 earnings per share for the current fiscal year.

In other news, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the transaction, the chief executive officer now directly owns 373,506 shares of the company’s stock, valued at $46,639,694.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the transaction, the executive vice president now directly owns 36,420 shares in the company, valued at $4,547,765.40. The disclosure for this sale can be found here. Insiders have sold 14,686 shares of company stock worth $1,873,342 over the last ninety days. Insiders own 0.66% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. QS Investors LLC increased its holdings in shares of Red Hat by 2.3% during the fourth quarter. QS Investors LLC now owns 16,799 shares of the open-source software company’s stock worth $2,018,000 after purchasing an additional 374 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Red Hat by 1.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,091 shares of the open-source software company’s stock valued at $3,334,000 after acquiring an additional 400 shares during the last quarter. Oakbrook Investments LLC increased its stake in Red Hat by 3.1% in the fourth quarter. Oakbrook Investments LLC now owns 14,205 shares of the open-source software company’s stock valued at $1,706,000 after acquiring an additional 430 shares during the last quarter. Standard Life Aberdeen plc increased its stake in Red Hat by 1.4% in the fourth quarter. Standard Life Aberdeen plc now owns 31,938 shares of the open-source software company’s stock valued at $3,836,000 after acquiring an additional 448 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in Red Hat by 3.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 17,048 shares of the open-source software company’s stock valued at $2,047,000 after acquiring an additional 500 shares during the last quarter. 95.71% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Red Hat (NYSE:RHT)

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