Red Hat, Inc. (RHT) Upgraded at Evercore ISI
Evercore ISI upgraded shares of Red Hat, Inc. (NYSE:RHT) from a hold rating to a buy rating in a research report report published on Saturday. Evercore ISI currently has $88.00 price target on the open-source software company’s stock.
A number of other brokerages also recently issued reports on RHT. Mizuho reaffirmed a buy rating and set a $88.00 price target on shares of Red Hat in a research report on Friday, September 30th. Vetr raised shares of Red Hat from a hold rating to a buy rating and set a $86.66 price objective on the stock in a report on Monday, October 3rd. Zacks Investment Research lowered shares of Red Hat from a buy rating to a hold rating in a report on Thursday, September 29th. William Blair reissued an outperform rating on shares of Red Hat in a report on Friday, September 23rd. Finally, Oppenheimer Holdings, Inc. set a $88.00 price objective on shares of Red Hat and gave the company a buy rating in a report on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $86.48.
Red Hat (NYSE:RHT) opened at 73.36 on Friday. The company has a market capitalization of $13.08 billion, a PE ratio of 56.00 and a beta of 1.47. The company has a 50-day moving average price of $75.58 and a 200-day moving average price of $75.49. Red Hat has a one year low of $59.59 and a one year high of $82.73.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, December 21st. The open-source software company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $615 million for the quarter. Red Hat had a return on equity of 20.57% and a net margin of 10.36%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. Analysts expect that Red Hat will post $2.27 earnings per share for the current fiscal year.
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In other Red Hat news, EVP Delisa Alexander sold 1,121 shares of the firm’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $77.00, for a total value of $86,317.00. Following the completion of the transaction, the executive vice president now owns 57,356 shares of the company’s stock, valued at approximately $4,416,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.76% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its position in shares of Red Hat by 36.4% in the third quarter. Acrospire Investment Management LLC now owns 1,500 shares of the open-source software company’s stock valued at $121,000 after buying an additional 400 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Red Hat by 183.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,700 shares of the open-source software company’s stock worth $137,000 after buying an additional 1,100 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Red Hat by 94.9% in the third quarter. Penserra Capital Management LLC now owns 1,783 shares of the open-source software company’s stock worth $143,000 after buying an additional 868 shares during the last quarter. Wunderlich Capital Managemnt purchased a new stake in shares of Red Hat during the second quarter worth $137,000. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of 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 worth $174,000 after buying an additional 1,333 shares during the last quarter. 94.41% 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.
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