Zacks Rating on Red Hat (RHT)

Red Hat (RHT) : 16 analysts are covering Red Hat (RHT) and their average rating on the stock is 1.31, which is read as a Strong Buy. 13 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Red Hat (RHT) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Red Hat (RHT) : The consensus price target for Red Hat (RHT) is $88.53 for the short term with a standard deviation of $7.27. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $105, however, the pessimist price target for the company is $75.


Shares of Red Hat, Inc. rose by 1.77% in the last five trading days and 1.84% for the last 4 weeks. Red Hat, Inc. has dropped 1.99% during the last 3-month period . Year-to-Date the stock performance stands at -9.56%. Red Hat (NYSE:RHT): stock turned positive on Tuesday. Though the stock opened at $74.45, the bulls momentum made the stock top out at $75.09 level for the day. The stock recorded a low of $74.31 and closed the trading day at $74.89, in the green by 1.11%. The total traded volume for the day was 692,070. The stock had closed at $74.07 in the previous days trading.

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.

Leave a Reply

Get Pre-Market Alerts!

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