Red Hat (NYSE:RHT)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup in a research report issued on Wednesday, December 13th. They presently have a $148.00 price target on the open-source software company’s stock. Citigroup’s target price would suggest a potential upside of 22.27% from the company’s current price.

A number of other equities analysts have also recently weighed in on RHT. Zacks Investment Research cut Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Piper Jaffray Companies reiterated a “hold” rating and set a $100.00 target price on shares of Red Hat in a research note on Sunday, August 27th. Credit Suisse Group began coverage on Red Hat in a research note on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price for the company. Moffett Nathanson began coverage on Red Hat in a research note on Wednesday, September 6th. They set a “buy” rating for the company. Finally, KeyCorp reiterated an “overweight” rating and set a $121.00 target price on shares of Red Hat in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $124.25.

Red Hat (NYSE:RHT) traded up $0.94 during midday trading on Wednesday, reaching $121.04. The company’s stock had a trading volume of 2,360,459 shares, compared to its average volume of 1,780,000. The stock has a market cap of $21,420.00, a PE ratio of 65.78, a PEG ratio of 3.67 and a beta of 1.19. Red Hat has a 52-week low of $68.95 and a 52-week high of $130.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 1.37.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. The firm had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. Red Hat’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. equities analysts anticipate that Red Hat will post 2.08 EPS for the current fiscal year.

In related news, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the sale, the executive vice president now directly owns 38,150 shares of the company’s stock, valued at approximately $4,591,734. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William S. Kaiser sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total value of $1,607,060.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,172 shares of company stock worth $2,592,577. Corporate insiders own 0.66% of the company’s stock.

Several hedge funds have recently bought and sold shares of RHT. D.A. Davidson & CO. increased its position in Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after buying an additional 68 shares during the period. Clear Perspective Advisors LLC acquired a new stake in Red Hat in the second quarter worth $112,000. Sun Life Financial INC increased its position in Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after buying an additional 1,187 shares during the period. BB&T Investment Services Inc. acquired a new stake in Red Hat in the second quarter worth $135,000. Finally, Global X Management Co. LLC increased its position in Red Hat by 91.3% in the second quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after buying an additional 736 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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About Red Hat

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

Analyst Recommendations for Red Hat (NYSE:RHT)

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