Red Hat Software (RHT) Price Target Raised to $172.00

Red Hat Software (NYSE:RHT) had its target price boosted by Stifel Nicolaus from $150.00 to $172.00 in a report released on Tuesday, March 27th. Stifel Nicolaus currently has a buy rating on the open-source software company’s stock.

Other research analysts also recently issued reports about the stock. Citigroup reissued a buy rating and set a $148.00 price objective on shares of Red Hat Software in a research report on Wednesday, December 13th. Barclays reaffirmed a buy rating and issued a $145.00 target price on shares of Red Hat Software in a report on Wednesday, December 13th. Mizuho lifted their target price on shares of Red Hat Software from $125.00 to $140.00 and gave the company a buy rating in a report on Wednesday, December 13th. Cowen reaffirmed a buy rating and issued a $136.00 target price on shares of Red Hat Software in a report on Monday, December 11th. Finally, Zacks Investment Research raised shares of Red Hat Software from a hold rating to a buy rating and set a $140.00 price objective on the stock in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $152.82.

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Shares of RHT opened at $157.71 on Tuesday. Red Hat Software has a twelve month low of $84.16 and a twelve month high of $167.36. The company has a current ratio of 1.36, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $28,179.08, a PE ratio of 68.57, a PEG ratio of 4.01 and a beta of 1.07.



Red Hat Software (NYSE:RHT) last announced its quarterly earnings results on Monday, March 26th. The open-source software company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.10. Red Hat Software had a net margin of 8.86% and a return on equity of 29.36%. The firm had revenue of $772.00 million for the quarter, compared to analyst estimates of $761.87 million. During the same period last year, the business earned $0.61 EPS. Red Hat Software’s revenue for the quarter was up 22.8% compared to the same quarter last year. equities analysts expect that Red Hat Software will post 2.52 EPS for the current year.

In other news, EVP Delisa Alexander sold 1,393 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $173,943.91. Following the completion of the transaction, the executive vice president now directly owns 36,420 shares in the company, valued at $4,547,765.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Whitehurst sold 5,593 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the sale, the chief executive officer now directly owns 373,506 shares in the company, valued at $46,639,694.22. The disclosure for this sale can be found here. Insiders sold 34,186 shares of company stock valued at $4,879,717 over the last 90 days. Insiders own 0.66% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. We Are One Seven LLC acquired a new stake in shares of Red Hat Software during the fourth quarter worth $105,000. Zions Bancorporation acquired a new stake in shares of Red Hat Software during the third quarter worth $164,000. Avestar Capital LLC acquired a new stake in shares of Red Hat Software during the fourth quarter worth $168,000. Calton & Associates Inc. acquired a new stake in shares of Red Hat Software during the fourth quarter worth $189,000. Finally, Winslow Evans & Crocker Inc. acquired a new stake in shares of Red Hat Software during the fourth quarter worth $193,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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Red Hat Software Company Profile

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

Analyst Recommendations for Red Hat Software (NYSE:RHT)

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