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.
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.
Also, Equity Analysts at the Morgan Stanley downgrades the rating on Red Hat (NYSE:RHT). The brokerage firm has issued a Equal Weight rating 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 in the green at $73.55 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $74.22 and a low of $73.05 for the day. The stock did not find buyers even at the lows and closed at $73.67 recording a loss of -0.04%. 2,325,872 shares exchanged hands during the trading day. The stock had closed at $73.7 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.