Red Hat Inc. (RHT) PT Set at $88.00 by Oppenheimer Holdings Inc.
Red Hat Inc. (NYSE:RHT) received a $88.00 price target from equities researchers at Oppenheimer Holdings Inc. in a research note issued on Thursday. The firm presently has a a “buy” rating on the open-source software company’s stock. Oppenheimer Holdings Inc.’s target price points to a potential upside of 9.97% from the stock’s previous close.
RHT has been the topic of a number of other reports. Vetr lowered Red Hat from a “strong-buy” rating to a “buy” rating and set a $84.24 price objective on the stock. in a research note on Wednesday, June 1st. Barclays PLC reiterated an “overweight” rating and set a $90.00 price objective on shares of Red Hat in a research note on Wednesday, June 15th. Royal Bank Of Canada reiterated a “buy” rating on shares of Red Hat in a research note on Thursday, June 16th. Deutsche Bank AG reiterated a “buy” rating on shares of Red Hat in a research note on Friday, June 17th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective on shares of Red Hat in a research note on Monday, June 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $88.69.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $599.80 million for the quarter. Red Hat had a return on equity of 18.85% and a net margin of 9.84%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share.
In other Red Hat news, EVP Michael Cunningham sold 10,000 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $73.14, for a total transaction of $731,400.00. Following the sale, the executive vice president now directly owns 64,800 shares in the company, valued at approximately $4,739,472. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction on 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 owns 60,780 shares in the company, valued at $4,426,607.40. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
A number of hedge funds have recently modified their holdings of RHT. Norges Bank acquired a new stake in shares of Red Hat during the fourth quarter valued at approximately $112,063,000. Emerald Acquisition Ltd. acquired a new stake in shares of Red Hat during the second quarter valued at approximately $87,400,000. UBS Asset Management Americas Inc. increased its stake in shares of Red Hat by 155.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,227,508 shares of the open-source software company’s stock valued at $91,461,000 after buying an additional 746,414 shares in the last quarter. Smith Asset Management Group LP increased its stake in shares of Red Hat by 219.6% in the second quarter. Smith Asset Management Group LP now owns 972,049 shares of the open-source software company’s stock valued at $70,571,000 after buying an additional 667,933 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Red Hat during the second quarter valued at approximately $41,574,000. Institutional investors and hedge funds own 94.81% of the company’s stock.
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.
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