Pacific Crest Upgrades Red Hat Inc to Overweight

Brokerage firm Pacific Crest Upgrades its rating on Red Hat Inc(NYSE:RHT). The shares have been rated Overweight. Previously, the analysts had a Sector Weight rating on the shares. The rating by Pacific Crest was issued on Apr 14, 2016.

In a different note, On Mar 23, 2016, Citigroup said it Maintains its rating on Red Hat Inc. In the research note, the firm Raises the price-target to $79.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 23, 2016, Bank of America said it Maintains its rating on Red Hat Inc. In the research note, the firm Lowers the price-target to $80.00 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 7, 2016, BMO Capital said it Maintains its rating on Red Hat Inc. In the research note, the firm Lowers the price-target to $97.00 per share. The shares have been rated ‘Outperform’ by the firm. On Feb 24, 2016, Baird said it Maintains its rating on Red Hat Inc. In the research note, the firm Lowers the price-target to $90.00 per share. The shares have been rated ‘Outperform’ by the firm. On Feb 18, 2016, Citigroup said it Upgrades its rating on Red Hat Inc. The shares have been rated ‘Buy’ by the firm. On Feb 4, 2016, Cowen & Company said it Upgrades its rating on Red Hat Inc. The shares have been rated ‘Outperform’ by the firm.

Red Hat Inc (RHT) made into the market gainers list on Mondays trading session with the shares advancing 1.06% or 0.79 points. Due to strong positive momentum, the stock ended at $75.45, which is also near the day’s high of $75.69. The stock began the session at $74.18 and the volume stood at 10,66,450 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 $13,779 M and it has 18,26,25,150 shares in outstanding.

Red Hat Inc(RHT) last announced its earnings results on Mar 22, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $543.50M. Analysts had an estimated revenue of $537.20M. Earnings per share were $0.52. Analysts had estimated an EPS of $0.47.

Several Insider Transactions has been reported to the SEC. On Jan 12, 2016, William S Kaiser (director) sold 18,972 shares at $80.15 per share price.Also, On Dec 23, 2015, Arun Oberoi (EVP, Global Sales & Service) sold 9,300 shares at $80.81 per share price.On Nov 9, 2015, Michael Cunningham (EVP, General Counsel) sold 5,000 shares at $80.78 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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