Baird Maintains Red Hat Inc to Outperform with Price Target $90.00

Brokerage firm Baird Maintains its rating on Red Hat Inc(NYSE:RHT). In a research note issued to the investors, the brokerage major Raises the price-target to $90.00 per share. The shares have been rated Outperform. The rating by Baird was issued on Sep 23, 2016.

In a different note, On Sep 22, 2016, Citigroup said it Maintains its rating on Red Hat Inc. In the research note, the firm Raises the price-target to $90.00 per share. The shares have been rated ‘Buy’ by the firm. On Sep 22, 2016, Jefferies said it Maintains its rating on Red Hat Inc. In the research note, the firm Raises the price-target to $75.00 per share. The shares have been rated ‘Hold’ by the firm. On Sep 22, 2016, UBS said it Maintains its rating on Red Hat Inc. In the research note, the firm Raises the price-target to $85.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 7, 2016, Morgan Stanley said it Downgrades its rating on Red Hat Inc. The shares have been rated ‘Equal Weight’ by the firm.

Red Hat Inc (RHT) made into the market gainers list on Tuesdays trading session with the shares advancing 0.47% or 0.37 points. Due to strong positive momentum, the stock ended at $79.11, which is also near the day’s high of $79.15. The stock began the session at $78.49 and the volume stood at 18,59,038 shares. The 52-week high of the shares is $84.44 and the 52 week low is $59.59. The company has a current market capitalization of $14,327 M and it has 18,10,96,140 shares in outstanding.

Red Hat Inc(RHT) last announced its earnings results on Sep 21, 2016 for Fiscal Year 2017 and Q2.Company reported revenue of $599.80M. Analysts had an estimated revenue of $593.34M. Earnings per share were $0.55. Analysts had estimated an EPS of $0.54.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, Michael Cunningham (EVP, General Counsel) sold 10,000 shares at $75.00 per share price.Also, On Jul 20, 2016, Delisa Alexander (EVP, Chief People Officer) sold 2,395 shares at $72.83 per share price.On May 26, 2016, James M Whitehurst (CEO & President) sold 43,425 shares at $75.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.

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