Red Hat, Inc. (NYSE:RHT) was upgraded by research analysts at Evercore ISI from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $88.00 price objective on the open-source software company’s stock. Evercore ISI’s target price points to a potential upside of 19.96% from the company’s previous close.

Several other equities research analysts have also commented on RHT. Rosenblatt Securities restated a “buy” rating and set a $95.00 target price on shares of Red Hat in a research report on Monday, December 26th. Oppenheimer Holdings, Inc. set a $88.00 price objective on shares of Red Hat and gave the stock a “buy” rating in a research report on Thursday, September 22nd. JMP Securities reiterated an “outperform” rating and issued a $93.00 price objective (down from $97.00) on shares of Red Hat in a research report on Friday, December 23rd. Stifel Nicolaus lowered shares of Red Hat from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $87.00 to $70.00 in a research report on Thursday, December 22nd. Finally, Jefferies Group decreased their price objective on shares of Red Hat from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $86.48.

Analyst Recommendations for Red Hat (NYSE:RHT)

Shares of Red Hat (NYSE:RHT) opened at 73.36 on Friday. The firm has a market capitalization of $13.08 billion, a PE ratio of 56.00 and a beta of 1.47. The company’s 50-day moving average is $75.58 and its 200 day moving average is $75.49. Red Hat has a 52-week low of $59.59 and a 52-week high of $82.73.

Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, December 21st. The open-source software company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $615 million for the quarter. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. Red Hat’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities analysts expect that Red Hat will post $2.27 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Red Hat, Inc. (RHT) Rating Increased to Buy at Evercore ISI” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The original version of this piece can be accessed at http://www.watchlistnews.com/red-hat-inc-rht-rating-increased-to-buy-at-evercore-isi/1061384.html.

In related news, EVP Delisa Alexander sold 1,121 shares of the firm’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $77.00, for a total transaction of $86,317.00. Following the transaction, the executive vice president now directly owns 57,356 shares in the company, valued at $4,416,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Red Hat by 24.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 20,244,633 shares of the open-source software company’s stock valued at $1,636,374,000 after buying an additional 3,954,374 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Red Hat by 16.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,407,019 shares of the open-source software company’s stock valued at $437,049,000 after buying an additional 753,192 shares in the last quarter. Smith Asset Management Group LP raised its stake in shares of Red Hat by 219.6% in the second quarter. Smith Asset Management Group LP now owns 972,049 shares of the open-source software company’s stock valued at $70,571,000 after buying an additional 667,933 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Red Hat by 307.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 797,406 shares of the open-source software company’s stock valued at $64,454,000 after buying an additional 601,913 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Red Hat during the second quarter valued at $41,574,000. Hedge funds and other institutional investors own 94.41% of the company’s stock.

About Red Hat

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

5 Day Chart for NYSE:RHT

Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.