November 28, 2016 - By Vivian Park
In a a research report revealed to investors and clients today, Rosenblatt analysts has started Red Hat (RHT) coverage with a “Buy” rating, and a $95.0 price target.
Out of 2 analysts covering Red Hat (RHT), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $90.0 is the highest target while $89.0 is the lowest. The $89.50 average target is 13.36% above today’s ($78.95) stock price. Red Hat has been the topic of 2 analyst reports since September 22, 2016 according to StockzIntelligence Inc. The firm has “Outperform” rating by BMO Capital Markets given on Thursday, September 22. UBS maintained the stock with “Buy” rating in Thursday, September 22 report.
About 100 shares traded hands. Red Hat Inc (RHT) has risen 5.83% since April 25, 2016 and is uptrending. It has underperformed by 0.19% the S&P500.
Analysts await Red Hat Inc (NYSE:RHT) to report earnings on December, 15. They expect $0.37 EPS, up 19.35% or $0.06 from last year’s $0.31 per share. RHT’s profit will be $66.36M for 53.34 P/E if the $0.37 EPS becomes a reality. After $0.37 actual EPS reported by Red Hat Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.04, from 1.08 in 2016Q1. The ratio fall, as 32 funds sold all Red Hat Inc shares owned while 167 reduced positions. 59 funds bought stakes while 156 increased positions. They now own 162.52 million shares or 1.66% less from 165.27 million shares in 2016Q1.
Schwab Charles, a California-based fund reported 535,269 shares. Shell Asset holds 0.03% of its portfolio in Red Hat Inc (NYSE:RHT) for 18,696 shares. Omers Administration reported 27,900 shares or 0.04% of all its holdings. Outfitter Advisors Limited accumulated 11,270 shares or 0.35% of the stock. Oppenheimer last reported 33,543 shares in the company. Diversified Company reported 4,625 shares or 0.04% of all its holdings. Joel Isaacson Limited Liability Corporation, a New York-based fund reported 31 shares. Gsa Capital Prtn Llp, a United Kingdom-based fund reported 16,939 shares. Df Dent Co Inc holds 1.93M shares or 3.93% of its portfolio. Airain Ltd has invested 0.18% of its portfolio in Red Hat Inc (NYSE:RHT). Apriem Advsr accumulated 5 shares or 0% of the stock. Stifel Finance reported 80,366 shares or 0.03% of all its holdings. Stephens Invest Mngmt Ltd Liability Corp reported 137,565 shares or 0.33% of all its holdings. Ing Groep Nv accumulated 6,445 shares or 0.01% of the stock. Valicenti Advisory Serv owns 27,525 shares or 1.27% of their US portfolio.
Red Hat, Inc. provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. The company has a market cap of $14.16 billion. Red Hat operates through three geographical divisions: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific. It has a 66.18 P/E ratio. The Company’s services and products include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services.
According to Zacks Investment Research, “Red Hat Inc. is a leading developer and provider of open source software and services, including the Red Hat Linux operating system. Unlike proprietary software, open source software has publicly available source code and can be copied, modified and distributed with minimal restrictions. The web site, REDHAT.COM, is a leading online source of information and news about open source software and one of the largest online communities of open source software users and developers.”
Red Hat, Inc. (Red Hat), incorporated on October 17, 1998, is a well-known provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. The Firm operates through three geographical divisions: the Americas (the United States, Canada and Latin America); Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company’s services and products include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services.
More notable recent Red Hat Inc (NYSE:RHT) news were published by: Fool.com which released: “How Red Hat, Inc.’s Second Quarter Stunned the Street” on September 23, 2016, also Profitconfidential.com with their article: “Red Hat Inc: Why RHT Stock Can Pop 40%” published on October 16, 2016, Forbes.com published: “Red Hat Stock Sees Short Interest Make 21% Move” on October 26, 2016. More interesting news about Red Hat Inc (NYSE:RHT) were released by: Fool.com and their article: “How Risky Is Red Hat Inc Stock?” published on March 08, 2016 as well as Fool.com‘s news article titled: “3 Things Red Hat Inc.’s Management Wants You to Know” with publication date: June 27, 2016.
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By Vivian Park