Monness Crespi & Hardt Raises Red Hat Software (RHT) Price Target to $200.00

Red Hat Software (NYSE:RHT) had its price target raised by Monness Crespi & Hardt from $175.00 to $200.00 in a research report released on Monday, Marketbeat.com reports. They currently have a buy rating on the open-source software company’s stock.

RHT has been the subject of a number of other reports. BMO Capital Markets reiterated a hold rating and set a $180.00 price target on shares of Red Hat Software in a research report on Tuesday, March 27th. Stifel Nicolaus lifted their price target on shares of Red Hat Software from $150.00 to $172.00 and gave the company a buy rating in a research report on Tuesday, March 27th. Oppenheimer lifted their price target on shares of Red Hat Software from $140.00 to $175.00 and gave the company an outperform rating in a research report on Tuesday, March 27th. Deutsche Bank lifted their price target on shares of Red Hat Software from $150.00 to $170.00 and gave the company a buy rating in a research report on Tuesday, March 27th. Finally, KeyCorp reiterated a buy rating and set a $184.00 price target on shares of Red Hat Software in a research report on Tuesday, March 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Red Hat Software currently has a consensus rating of Buy and an average target price of $156.76.

Shares of RHT opened at $161.08 on Monday. Red Hat Software has a twelve month low of $161.17 and a twelve month high of $164.15. The company has a market capitalization of $29.06 billion, a price-to-earnings ratio of 70.03, a price-to-earnings-growth ratio of 4.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.36 and a current ratio of 1.36.

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

In other Red Hat Software news, CEO James M. Whitehurst sold 4,422 shares of the business’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $161.32, for a total value of $713,357.04. Following the completion of the transaction, the chief executive officer now directly owns 346,645 shares in the company, valued at approximately $55,920,771.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arun Oberoi sold 15,000 shares of the business’s stock in a transaction on Monday, April 9th. The shares were sold at an average price of $153.58, for a total value of $2,303,700.00. Following the completion of the transaction, the executive vice president now owns 74,457 shares of the company’s stock, valued at $11,435,106.06. The disclosure for this sale can be found here. Insiders sold a total of 107,376 shares of company stock valued at $17,167,724 over the last quarter. 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. Amundi Pioneer Asset Management Inc. raised its holdings in Red Hat Software by 20.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 130,095 shares of the open-source software company’s stock valued at $19,450,000 after acquiring an additional 21,764 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Red Hat Software during the 1st quarter valued at $263,000. Point72 Asset Management L.P. grew its stake in shares of Red Hat Software by 48.3% during the 1st quarter. Point72 Asset Management L.P. now owns 21,200 shares of the open-source software company’s stock valued at $3,170,000 after buying an additional 6,900 shares during the period. Whale Rock Capital Management LLC purchased a new stake in shares of Red Hat Software during the 1st quarter valued at $57,172,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Red Hat Software by 29.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,485 shares of the open-source software company’s stock valued at $671,000 after buying an additional 1,024 shares during the period. Institutional investors own 94.41% of the company’s stock.

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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