11.77% to Target, RBC Capital Mkts Reconfirms “Outperform” Rating for Red Hat (NYSE:RHT) Stock

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Red Hat (NYSE:RHT) Rating

In analysts note issued to clients on Tuesday morning, Red Hat (NYSE:RHT) stock “Outperform” was reconfirmed by RBC Capital Mkts. They currently have a $90.0 target price on the stock. RBC Capital Mkts’s target price indicates a potential upside of 11.77% from the company’s current stock price.

Out of 29 analysts covering Red Hat (NYSE:RHT), 24 rate it “Buy”, 1 “Sell”, while 6 “Hold”. This means 77% are positive. $92 is the highest target while $72 is the lowest. The $84.62 average target is 6.56% above today’s ($80.52) stock price. Red Hat was the topic in 10 analyst reports since August 25, 2015 according to StockzIntelligence Inc. Deutsche Bank upgraded the stock on November 3 to “Buy” rating. BTIG Research initiated it with “Buy” rating and $85 target price in a September 10 report. Drexel Hamilton initiated the shares of RHT in a report on October 9 with “Buy” rating. Finally, JP Morgan maintained the stock with “Overweight” rating in a September 22 report.

The stock decreased 1.67% or $1.37 during the last trading session, hitting $80.52. Red Hat Inc (NYSE:RHT) has risen 7.36% since May 5, 2015 and is uptrending. It has outperformed by 7.95% the S&P500.

Analysts await Red Hat Inc (NYSE:RHT) to reports earnings on December, 17. They expect $0.31 EPS, up 3.33% or $0.01 from last year’s $0.3 per share. RHT’s profit will be $57.63M for 64.94 P/E if the $0.31 EPS becomes reality. After $0.34 actual EPS reported by Red Hat Inc for the previous quarter, Wall Street now forecasts -8.82% negative EPS growth.

The institutional sentiment increased to 1.17 in Q3 2015. Its up 0.03, from 1.14 in 2015Q2. The ratio improved, as 43 funds sold all Red Hat Inc shares owned while 148 reduced positions. 66 funds bought stakes while 158 increased positions. They now own 152.76 million shares or 9.93% less from 169.60 million shares in 2015Q2.

Gagnon Advisors Llc holds 9.15% of its portfolio in Red Hat Inc for 156,477 shares. Gagnon Securities Llc owns 197,411 shares or 6.94% of their US portfolio. Moreover, Contour Asset Management Llc has 4.38% invested in the company for 1.06 million shares. The Maryland-based Df Dent & Co Inc has invested 3.95% in the stock. Tremblant Capital Group, a New York-based fund reported 759,826 shares.

More notable recent Red Hat Inc (NYSE:RHT) news were published by: Fool.com which released: “How Red Hat Inc. Gained 10% in October” on November 10, 2015, also 247Wallst.com with their article: “Red Hat Posts Solid Beat on Earnings” published on September 21, 2015, Benzinga.com published: “Red Hat’s Cloud Story Is Finally Here; Time To Buy?” on November 03, 2015. More interesting news about Red Hat Inc (NYSE:RHT) were released by: Businessfinancenews.com and their article: “Red Hat Inc (RHT) Stock Updated At Credit Suisse And Others” published on September 24, 2015 as well as Businesswire.com‘s news article titled: “Frank Calderoni Named Red Hat’s EVP, Operations and Chief Financial Officer” with publication date: June 22, 2015.

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 has a market cap of $14.97 billion. The Firm employs an open source development model. It has 77.1 P/E ratio. 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.

According to Zacks Investment Research, “Red Hat Inc. is a leading developer and provider of open source software and services, including the Red Hat Linux operating system. Unlike proprietary software, open source software has publicly available source code and can be copied, modified and distributed with minimal restrictions. The web site, REDHAT.COM, is a leading online source of information and news about open source software and one of the largest online communities of open source software users and developers.” Get a free copy of the Zacks research report on Red Hat Inc (RHT).

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