Red Hat (NYSE:RHT) Rating Maintained

In analysts report published on Tuesday morning, Red Hat (NYSE:RHT) stock had its Outperform Rating reaffirmed by expert analysts at RBC Capital Mkts. They currently have a $98.0 price target on firm. RBC Capital Mkts’s target means a potential upside of 19.22 % from the company’s last price.

NYSE:RHT is right now trading -0.92% lower at $82.20 as of 12:00 AM New York time. Red Hat’s stock is 0% over the last 200 days. It has underperformed the Standard & Poor’s 500 index, which has risen 10.69% over the same time.

Out of 30 brokers covering Red Hat, 26 rate it a Buy, 4 indicate a Hold while 1 suggest a Sell. The highest target is $105 and the lowest is $75 according to Thomson/First Call. The 12-month mean target is $88.13, which means upside potential of 7.21% over the current price.

Institutional Ownership

Gagnon Advisors Llc had the most significant stake with ownership of 107,587 shares as of q2 2015 for 6.87% of the stock exposure. Gagnon Securities Llc is another notably bullish fund who is possessing 142,718 shares of Red Hat or 4.91% of their stock exposure. Furthermore, Df Dent & Co Inc have 4.22% of their stock exposure invested in the company for 1.89 million shares. The New York-based fund Contour Asset Management Llc revealed it had acquired a stake worth about 4.07% of the fund’s stock portfolio in Red Hat. The New York-based fund Capital Counsel Llc Ny is also positive about the stock, possessing 934,997 shares or 3.99% of their stock exposure.

Red Hat (NYSE:RHT) 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. Its products and services include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services.

Red Hat (NYSE:RHT) traded down -0.92% on 28 March, hitting $82.2. A total of shares of the company’s stock traded hands. This is down from average of 1.69 million shares. Red Hat has a 52 week low of $68.54 and a 52 week high of $85.01. The company has a market cap of $14.69 billion and a P/E ratio of 62.7.

Get the latest Red Hat (NYSE:RHT) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Analysts at RBC Capital Mkts Maintain their Outperform rating for Red Hat (NYSE:RHT) with $98.0 TP appeared first on Octafinance.