Red Hat (RHT) Receives Price Target

Red Hat (RHT) : Average target price received by Red Hat (RHT) is $88.53 with an expected standard deviation of $7.27. The most aggressive target on the stock is $105, whereas the most downbeat target is $75. 15 financial analysts are currently covering the stock.

Red Hat (RHT) : The consensus on Red Hat (RHT) based on 16 analyst recommendation on the company stock is 1.31, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 13 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.


Also, Morgan Stanley downgrades its rating on Red Hat (NYSE:RHT). Analysts at the Morgan Stanley have a current rating of Equal Weight on the shares. The shares were previously rated Overweight. The rating by the firm was issued on July 7, 2016.

Red Hat (NYSE:RHT): The stock opened at $72.50 on Thursday but the bulls could not build on the opening and the stock topped out at $72.97 for the day. The stock traded down to $72.26 during the day, due to lack of any buying support eventually closed down at $72.94 with a loss of -0.05% for the day. The stock had closed at $72.98 on the previous day. The total traded volume was 2,710,455 shares.

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 softwares 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.