Stifel Nicolaus Initiates Coverage on Red Hat (RHT)

By admin | 6 years ago

Stifel Nicolaus initiated coverage on shares of Red Hat (NYSE: RHT) in a research note issued on Friday. The firm set a “buy” rating and a $70.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets initiated coverage on shares of Red Hat in a research note to investors on Thursday. They set an “outperform” rating on the stock. Separately, 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. Finally, 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.

Red Hat traded up 0.36% on Friday, hitting $58.91. 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 $11.361 billion and a price-to-earnings ratio of 78.27.

Red Hat last released its earnings data on Wednesday, March 28th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 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.

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