Today’s Rating: Rosenblatt Covers Red Hat (NYSE:RHT). What Is Next?

November 28, 2016 - By Michael Collier

Today's Rating: Rosenblatt Covers Red Hat (NYSE:RHT). What Is Next?

Why Rosenblatt Gives Red Hat (NYSE:RHT) $95 Price Target

Analysts at Rosenblatt initiated coverage on shares of Red Hat (NYSE:RHT) in a an analyst report revealed on Monday morning. The financial company set a Buy rating on the $14.16 billion market cap company.

Red Hat Inc (NYSE:RHT) Ratings Coverage

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 15.03% above today’s ($78.95) stock price. Red Hat has been the topic of 36 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, December 18 by Stifel Nicolaus. The firm has “Buy” rating given on Thursday, September 22 by Citigroup. The rating was maintained by BMO Capital Markets on Monday, March 7 with “Outperform”. The firm has “Market Perform” rating by Cowen & Co given on Thursday, October 22. The stock has “Buy” rating given by Mizuho on Monday, September 21. The firm has “Outperform” rating given on Thursday, September 22 by BMO Capital Markets. BMO Capital Markets initiated Red Hat Inc (NYSE:RHT) on Friday, January 8 with “Outperform” rating. The rating was maintained by Citigroup on Wednesday, March 23 with “Buy”. On Tuesday, January 26 the stock rating was downgraded by Bank of America to “Neutral”. The company was maintained on Friday, December 18 by Mizuho.

About 100 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 $66.36M 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 2016 Q2. Its down 0.04, from 1.08 in 2016Q1. The ratio is negative, 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.

Da Davidson &, a Montana-based fund reported 916 shares. Sustainable Growth Advisers L P, a Connecticut-based fund reported 2.57 million shares. Intact Invest Management accumulated 0.02% or 8,000 shares. Utd Svcs Automobile Association accumulated 79,607 shares or 0.02% of the stock. Meiji Yasuda Life Insurance Communications last reported 0.15% of its portfolio in the stock. Susquehanna Intll Ltd Liability Partnership accumulated 0% or 6,196 shares. Shell Asset Mgmt Com last reported 18,696 shares in the company. Basso Mgmt Limited Partnership accumulated 11,650 shares or 0.13% of the stock. Calamos Advsr accumulated 0.08% or 165,584 shares. Clearbridge Limited Liability Co last reported 0.28% of its portfolio in the stock. Gulf Interest Bancorp (Uk) Limited last reported 0.07% of its portfolio in the stock. Reliance Tru Company Of Delaware holds 0.13% of its portfolio in Red Hat Inc (NYSE:RHT) for 23,276 shares. Bessemer Group Inc owns 6,899 shares or 0% of their US portfolio. Axa has 82,000 shares for 0.03% of their US portfolio. Teachers Retirement Of The State Of Kentucky accumulated 0.02% or 24,400 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 $14.16 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.”

RHT Company Profile

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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