Red Hat (RHT) Price Target Raised At Susquehanna

Analysts at Susquehanna upgraded shares of Red Hat, Inc. (RHT) to ‘Positive’ from ‘Neutral’ and lifted their price target to $70 from $57 in a research report issued to clients and investors on Friday. Susquehanna’s new PT points to a potential upside of 22.80% from the stock’s current price-per-share.

Other equities research analysts have also recently issued reports about the name. Analysts at Citigroup (C) maintained their ‘Neutral’ rating on the shares of the software solutions company in a research note issued on June 19. The firm placed a price target of $54.00. Analysts at Raymond James and JP Morgan (JPM) also maintained an ‘Outperform’ and ‘Underweight’ rating on RHT in a note to clients on Friday, Mar 28. Both firms placed price targets of $63.00 and $46.00, respectively. Finally, analysts at Cowen & Company upgraded shares of Red Hat to an ‘Outperform’ rating from a ‘Market Perform’ rating in a research note to clients on Feb. 19.

Red Hat, Inc currently trades at forward P/E of 62.49. The median Wall Street price target on the company’s stock is $65.00 with a high target of $74.00.

Profitability-wise the company’s trailing-12 profit margin currently stands at 11% while operating ones are 14.47%. The $11 billion market cap company reported $803.19 million in cash vs. $0 in debt in its most recent quarter. RHT has a 52 week low of $41.89 and a 52 week high of $61.45. The stock’s 50-day moving average is $55.02 and its 200-day moving average is $54.32.

The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.

In today’s session, the equity is changing hands at $58.12 a share. RHT is up 14.34% year-over-year, and 3.71% year-to-date.

Red Hat, Inc. provides open source software solutions to enterprise customers worldwide. The company was founded in 1993 and is headquartered in Raleigh, North Carolina.

Be the first to comment

Leave a Reply

Your email address will not be published.


*