Stock analysts at Nomura started coverage on shares of Red Hat (NYSE:RHT) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set a “buy” rating and a $152.00 price target on the open-source software company’s stock. Nomura’s price target suggests a potential upside of 18.74% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank reiterated a “buy” rating and set a $120.00 price target (up from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Mizuho reiterated a “buy” rating and set a $125.00 price target (up from $109.00) on shares of Red Hat in a research report on Tuesday, September 26th. Stifel Nicolaus upped their price target on Red Hat from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. Drexel Hamilton reiterated a “buy” rating and set a $130.00 price target (up from $127.00) on shares of Red Hat in a research report on Monday, September 25th. Finally, BTIG Research reiterated a “buy” rating and set a $120.00 price target on shares of Red Hat in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $125.11.

Shares of Red Hat (NYSE:RHT) traded up $2.07 during trading on Tuesday, reaching $128.01. The company had a trading volume of 1,947,400 shares, compared to its average volume of 1,580,214. Red Hat has a fifty-two week low of $73.75 and a fifty-two week high of $130.93. The company has a market cap of $22,640.00, a PE ratio of 69.57, a P/E/G ratio of 3.85 and a beta of 1.19. 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 announced its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The firm had revenue of $747.98 million for the quarter, compared to analysts’ expectations of $734.69 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 21.6% on a year-over-year basis. research analysts predict that Red Hat will post 2.08 earnings per share for the current fiscal year.

In other Red Hat news, CEO James M. Whitehurst sold 5,593 shares of the company’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 value of $698,397.91. Following the completion of the sale, the chief executive officer now 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 SEC, which can be accessed through this link. Also, EVP Delisa Alexander sold 1,393 shares of the company’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 value of $173,943.91. Following the completion of the sale, the executive vice president now directly owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. boosted its stake in Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after buying an additional 68 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Red Hat by 1.3% during the second quarter. Nordea Investment Management AB now owns 7,011 shares of the open-source software company’s stock valued at $671,000 after purchasing an additional 92 shares during the period. Gyroscope Capital Management Group LLC boosted its stake in shares of Red Hat by 4.0% during the second quarter. Gyroscope Capital Management Group LLC now owns 2,429 shares of the open-source software company’s stock valued at $233,000 after purchasing an additional 93 shares during the period. Gofen & Glossberg LLC IL boosted its stake in shares of Red Hat by 0.3% during the second quarter. Gofen & Glossberg LLC IL now owns 44,097 shares of the open-source software company’s stock valued at $4,222,000 after purchasing an additional 151 shares during the period. Finally, Oakbrook Investments LLC boosted its stake in shares of Red Hat by 3.1% during 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 purchasing an additional 430 shares during the period. 94.61% of the stock is owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Red Hat (NYSE:RHT)

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