Robert W. Baird analyst Jayson Noland maintained a Hold rating on Red Hat (NYSE: RHT) today and set a price target of $170. The company’s shares closed yesterday at $168.60, close to its 52-week high of $169.20.
According to TipRanks.com, Noland is a 5-star analyst with an average return of 17.4% and a 65.2% success rate. Noland covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Juniper Networks.
Red Hat has an analyst consensus of Moderate Buy, with a price target consensus of $167.64.
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Based on Red Hat’s latest earnings release for the quarter ending February 28, the company reported a quarterly GAAP net loss of $12.55 million. In comparison, last year the company had a net profit of $65.8 million.
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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