Somewhat Favorable News Coverage Somewhat Unlikely to Impact Red Hat (RHT) Stock Price
News headlines about Red Hat (NYSE:RHT) have been trending somewhat positive on Sunday, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Red Hat earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave news articles about the open-source software company an impact score of 45.3650260297521 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have effected Accern’s rankings:
- What’s Red Hat’s Cash Flow Position? (finance.yahoo.com)
- Earnings Review and Free Research Report: Red Hat’s Revenue Surged 21%; EPS Soared 65.6% (finance.yahoo.com)
- What Analysts Think of Red Hat Stock after Fiscal 2Q18 Earnings (finance.yahoo.com)
- What Red Hat Stock’s Relative Strength Index Indicates (finance.yahoo.com)
- Attunity (ATTU) versus Red Hat (RHT) Head-To-Head Survey (americanbankingnews.com)
Red Hat (NYSE:RHT) opened at 117.06 on Friday. The stock’s 50 day moving average is $107.71 and its 200-day moving average is $95.69. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 70.05 and a beta of 1.25. Red Hat has a 12 month low of $68.54 and a 12 month high of $117.22.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. The company had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. Equities analysts anticipate that Red Hat will post $2.79 earnings per share for the current fiscal year.
A number of research firms have weighed in on RHT. Deutsche Bank AG reissued a “buy” rating and set a $130.00 target price on shares of Red Hat in a research report on Monday, October 2nd. BTIG Research reissued a “buy” rating and set a $120.00 target price on shares of Red Hat in a research report on Wednesday, September 27th. Wells Fargo & Company reissued an “outperform” rating and set a $124.00 target price (up previously from $120.00) on shares of Red Hat in a research report on Wednesday, September 27th. KeyCorp reissued an “overweight” rating and set a $125.00 target price (up previously from $121.00) on shares of Red Hat in a research report on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of Red Hat from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 26th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Red Hat has a consensus rating of “Buy” and an average target price of $110.93.
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In related news, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the sale, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Delisa Alexander sold 2,444 shares of Red Hat stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total transaction of $240,123.00. Following the sale, the executive vice president now directly owns 41,570 shares in the company, valued at $4,084,252.50. The disclosure for this sale can be found here. Insiders have sold a total of 39,087 shares of company stock worth $4,227,191 over the last ninety days. 0.66% of the stock is currently owned by insiders.
Red Hat Company Profile
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.
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