Red Hat (RHT) Receives a Buy from Rosenblatt Securities

Rosenblatt Securities analyst Marshall Senk maintained a Buy rating on Red Hat (NYSE: RHT) on September 20 and set a price target of $155. The company’s shares closed on Friday at $134.62.

Senk wrote:

“We expect Q3 to be more of what we saw this quarter, with lower than previously expected top-line growth, more operating margin expansion, share repurchases, and some strength in the bottom line. Our new estimates are as follows: What ’s Next Our consistent view across software is that the salesforce acts the way the comp plan tells them to.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 24.7% and a 75.0% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.

Currently, the analyst consensus on Red Hat is a Moderate Buy with an average price target of $157.35, representing a 16.9% upside. In a report issued on September 7, Barclays also maintained a Buy rating on the stock with a $166 price target.

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Red Hat’s market cap is currently $23.89B and has a P/E ratio of 88.57. The company has a Price to Book ratio of 16.68.

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Red Hat, Inc. engages in the provision of open source software solutions. The firm operates its business through the following segments: Americas, EMEA, Asia Pacific, and Corporate. The company was founded by Robert F. Young in March 1993 and is headquartered in Raleigh, NC.