Red Hat Receives a Hold from Credit Suisse


In a report released today, Brad Zelnick from Credit Suisse maintained a Hold rating on Red Hat (NYSE: RHT), with a price target of $150. The company’s shares opened today at $171.16, equals to its 52-week high of $171.16.

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 12.1% and a 69.1% success rate. Zelnick covers the Technology sector, focusing on stocks such as Symantec Corp, Check Point, and Oracle Corp.

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 today, Robert W. Baird also maintained a Hold rating on the stock with a $170 price target.

See today’s analyst top recommended stocks >>

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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