Press coverage about Red Hat (NYSE:RHT) has been trending somewhat positive recently, Accern reports. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Red Hat earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave press coverage about the open-source software company an impact score of 46.227134837268 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- Progressive Corp (PGR) and Red Hat Inc (RHT) Shares Moving The Tape in Session – Bulletin News (orobulletin.com)
- Pitney Bowes (PBI) Hit by Rising Expense, Poor End Markets – Nasdaq (nasdaq.com)
- Red Hat Enhances Cloud-Native Security, Application Consistency with Latest Version of Red Hat OpenShift Container … – Business Wire (press release) (businesswire.com)
- Red Hat, Inc. (RHT) Position Decreased by Norges Bank Last Quarter – First News 24 (firstnewspaper24.com)
- Red Hat, Inc. (RHT) Stake Decreased by Norges Bank – Modern Readers (modernreaders.com)
A number of research firms have weighed in on RHT. MKM Partners reissued a “neutral” rating and set a $98.00 price objective (up previously from $82.00) on shares of Red Hat in a report on Friday, June 23rd. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Friday, June 23rd. Piper Jaffray Companies initiated coverage on shares of Red Hat in a report on Friday, June 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. Jefferies Group LLC reiterated a “hold” rating on shares of Red Hat in a research report on Thursday, June 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $112.00 price objective (up from $95.00) on shares of Red Hat in a research report on Thursday, June 22nd. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $98.72.
Shares of Red Hat (NYSE:RHT) opened at 98.34 on Friday. Red Hat has a 52-week low of $68.54 and a 52-week high of $101.73. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 67.36 and a beta of 1.26. The company’s 50 day moving average price is $97.93 and its 200 day moving average price is $88.38.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The company had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. During the same quarter last year, the firm earned $0.50 EPS. Red Hat’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts forecast that Red Hat will post $2.66 earnings per share for the current year.
In related news, EVP Paul J. Cormier sold 30,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $90.35, for a total value of $2,710,500.00. Following the sale, the executive vice president now owns 249,578 shares of the company’s stock, valued at approximately $22,549,372.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Delisa Alexander sold 2,444 shares of Red Hat stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total value of $240,123.00. Following the completion of the transaction, the executive vice president now owns 41,570 shares of the company’s stock, valued at approximately $4,084,252.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,549 shares of company stock worth $12,133,438. 0.66% of the stock is 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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