In a report released yesterday, Brian White from Monness assigned a Buy rating to Red Hat (NYSE: RHT), with a price target of $175. The company’s shares closed yesterday at $171.16, equals to its 52-week high of $171.16.
According to TipRanks.com, White is a top 100 analyst with an average return of 17.4% and a 69.2% success rate. White covers the Technology sector, focusing on stocks such as Salesforce.com, Facebook Inc, and Alphabet Inc.
Currently, the analyst consensus on Red Hat is Moderate Buy and the average price target is $169.36, representing a -1.1% downside.
In a report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $180 price target.
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Red Hat’s market cap is currently $30.31B and has a P/E ratio of 122.26. The company has a Price to Book ratio of 20.61.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock.
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Red Hat, Inc. engages in the provision of open source software solutions. The firm operates its business through the following graphical segments: Americas (the United States, Canada, and Latin America); EMEA (Europe, Middle East, and Africa); and Asia Pacific. It offers Red Hat Enterprise Linux; Red Hat JBoss Middleware; Red Hat Enterprise Virtualization; and Red Hat Storage Server. The company was founded by Robert F. Young in March 1993 and is headquartered in Raleigh, NC.
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