Stock Update (NASDAQ:MSFT): Microsoft Corporation and Red Hat to Deliver New Standard for Enterprise Cloud Experiences
Microsoft Corporation (NASDAQ:MSFT) and Red Hat Inc. (NYSE:RHT) Wednesday announced a partnership that will help customers embrace hybrid cloud computing by providing greater choice and flexibility deploying Red Hat solutions on Microsoft Azure. As a key component of today’s announcement, Microsoft is offering Red Hat Enterprise Linux as the preferred choice for enterprise Linux workloads on Microsoft Azure. In addition, Microsoft and Red Hat are also working together to address common enterprise, ISV and developer needs for building, deploying and managing applications on Red Hat software across private and public clouds. (Original Source)
Shares of Microsoft closed yesterday at $54.15. MSFT has a 1-year high of $54.39 and a 1-year low of $39.72. The stock’s 50-day moving average is $47.38 and its 200-day moving average is $46.02.
On the ratings front, Microsoft has been the subject of a number of recent research reports. In a report released yesterday, Deutsche Bank analyst Karl Keirstead maintained a Buy rating on MSFT. Separately, on October 26, FBR’s Daniel Ives reiterated a Buy rating on the stock and has a price target of $60.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Karl Keirstead and Daniel Ives have a total average return of 5.0% and 7.1% respectively. Keirstead has a success rate of 56.0% and is ranked #812 out of 3824 analysts, while Ives has a success rate of 62.4% and is ranked #323.
Overall, 3 research analysts have rated the stock with a Sell rating, 5 research analysts have assigned a Hold rating and 15 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $54.83 which is 1.3% above where the stock closed yesterday.