November 28, 2016 - By Peter Kolinski
In a a research report shared with investors on Monday morning, analysts at Rosenblatt has started coverage on shares of Red Hat Inc (NYSE:RHT). The firm set a Buy rating with $95.00, giving 21.02% to target.
Out of 20 analysts covering Red Hat (NYSE:RHT), 18 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 90% are positive. $98 is the highest target while $75 is the lowest. The $90.82 average target is 15.77% above today’s ($78.45) stock price. Red Hat has been the topic of 36 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The rating was maintained by Credit Suisse on Tuesday, September 22 with “Buy”. Needham maintained Red Hat Inc (NYSE:RHT) rating on Friday, December 18. Needham has “Buy” rating and $98 price target. The company was maintained on Friday, December 18 by RBC Capital Markets. The firm has “Market Perform” rating given on Thursday, October 22 by Cowen & Co. On Friday, December 18 the stock rating was maintained by Mizuho with “Buy”. The stock of Red Hat Inc (NYSE:RHT) has “Hold” rating given on Tuesday, August 25 by Zacks. The stock of Red Hat Inc (NYSE:RHT) has “Outperform” rating given on Monday, March 7 by BMO Capital Markets. Deutsche Bank upgraded Red Hat Inc (NYSE:RHT) on Tuesday, November 3 to “Buy” rating. The firm has “Outperform” rating by BMO Capital Markets given on Friday, January 8. The stock of Red Hat Inc (NYSE:RHT) has “Hold” rating given on Thursday, September 22 by Jefferies.
About 896,550 shares traded hands. Red Hat Inc (NYSE: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 $66.51M for 52.96 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 2016 Q2. 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.
Quantbot Techs L P reported 58,616 shares or 0.45% of all its holdings. Susquehanna Int Gp Llp owns 6,196 shares or 0% of their US portfolio. Commercial Bank Of Nova Scotia reported 3,644 shares or 0% of all its holdings. Alliancebernstein Limited Partnership holds 0.02% or 351,597 shares in its portfolio. Kbc Group Nv accumulated 26,136 shares or 0.03% of the stock. Gilder Gagnon Howe & Com Limited Com reported 46,490 shares or 0.07% of all its holdings. Cleararc, a Ohio-based fund reported 4,418 shares. Jefferies Gru Lc has invested 0.05% of its portfolio in Red Hat Inc (NYSE:RHT). Canada Pension Plan Board has 0% invested in the company for 832 shares. Paloma Management holds 87,174 shares or 0.07% of its portfolio. Great West Life Assurance Can reported 100,560 shares or 0.03% of all its holdings. Amp Investors Ltd reported 68,452 shares or 0.03% of all its holdings. Moreover, Sustainable Growth Advisers L P has 3.93% invested in Red Hat Inc (NYSE:RHT) for 2.57M shares. Omers Administration Corporation reported 27,900 shares or 0.04% of all its holdings. Moreover, Laurion Capital Management Ltd Partnership has 0.03% invested in Red Hat Inc (NYSE:RHT) for 29,989 shares.
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 $14.10 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 65.88 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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