Red Hat Sets New 12-Month High at $61.97 (RHT)

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Red Hat (NYSE:RHT) shares reached a new 52-week high on Tuesday , AnalystRatings.NET reports. The stock traded as high as $61.97 and last traded at $61.89, with a volume of 490,453 shares traded. The stock had previously closed at $60.97.

A number of analysts have recently weighed in on RHT shares. Analysts at Wells Fargo & Co. downgraded shares of Red Hat to a “buy” rating in a research note on Friday, August 1st. Separately, analysts at RBC Capital raised their price target on shares of Red Hat from $64.00 to $70.00 in a research note on Friday, August 1st. Finally, analysts at Susquehanna upgraded shares of Red Hat from a “neutral” rating to a “positive” rating in a research note on Friday, August 1st. They now have a $70.00 price target on the stock, up previously from $57.00. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and an average price target of $63.50.

The stock’s 50-day moving average is $56.8 and its 200-day moving average is $54.42. The company has a market cap of $11.826 billion and a price-to-earnings ratio of 66.27.

Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, June 18th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $413.97 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts expect that Red Hat will post $1.54 EPS for the current fiscal year.

In other Red Hat news, CFO Charles E. Peters, Jr. unloaded 35,309 shares of the stock on the open market in a transaction dated Friday, August 15th. The shares were sold at an average price of $60.00, for a total value of $2,118,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Red Hat, Inc (NYSE:RHT) is a global provider of open source software solutions, using a community-powered approach to develop and offer operating system, middleware, virtualization, storage and cloud technologies.

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