Several other analysts have also recently commented on the stock. Analysts at MKM Partners initiated coverage on shares of Red Hat in a research note to investors on Tuesday, April 10th. They set a “neutral” rating on the stock. Separately, analysts at Wells Fargo & Co. (NYSE: WFC) reiterated an “outperform” rating on shares of Red Hat in a research note to investors on Thursday, March 29th. Finally, analysts at Drexel Hamilton reiterated a “buy” rating on shares of Red Hat in a research note to investors on Thursday, March 29th.
Red Hat traded down 3.01% on Thursday, hitting $58.97. Red Hat has a 1-year low of $31.77 and a 1-year high of $62.75. The company has a market cap of $11.373 billion and a price-to-earnings ratio of 81.07.
The company last announced its quarterly results on Wednesday, March 28th. It reported $0.29 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.27 EPS by $0.02. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts expect that Red Hat will post $0.29 EPS next quarter.
Red Hat, Inc. (Red Hat) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.