Sentiment for Red Hat Inc (NYSE:RHT)
Red Hat Inc (NYSE:RHT) institutional sentiment increased to 1.17 in 2015 Q3. Its up 0.03, from 1.14 in 2015Q2. The ratio increased, as 224 active investment managers opened new and increased positions, while 191 sold and decreased equity positions in Red Hat Inc. The active investment managers in our partner’s database now have: 152.76 million shares, down from 169.60 million shares in 2015Q2. Also, the number of active investment managers holding Red Hat Inc in their top 10 positions decreased from 10 to 8 for a decrease of 2. Sold All: 43 Reduced: 148 Increased: 158 New Position: 66.
Red Hat, Inc. is a provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, middleware, storage and cloud technologies. The company has a market cap of $11.62 billion. The Firm employs an open source development model. It has 59.28 P/E ratio. The open source development model allows it to use the collective input, resources and knowledge of a global community of contributors who can collaborate to develop, maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification.
About 885,904 shares traded hands. Red Hat Inc (NYSE:RHT) has declined 16.38% since July 8, 2015 and is downtrending. It has underperformed by 6.86% the S&P500.
Analysts await Red Hat Inc (NYSE:RHT) to reports earnings on March, 23. They expect $0.31 EPS, up 3.33% or $0.01 from last year’s $0.3 per share. RHT’s profit will be $58.40M for 49.74 P/E if the $0.31 EPS becomes reality. After $0.31 actual EPS reported by Red Hat Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
According to Zacks Investment Research, “Red Hat Inc. is a leading developer and provider of open source software and services, including the Red Hat Linux operating system. Unlike proprietary software, open source software has publicly available source code and can be copied, modified and distributed with minimal restrictions. The web site, REDHAT.COM, is a leading online source of information and news about open source software and one of the largest online communities of open source software users and developers.”
Gagnon Advisors Llc holds 9.15% of its portfolio in Red Hat Inc for 156,477 shares. Gagnon Securities Llc owns 197,411 shares or 6.94% of their US portfolio. Moreover, Contour Asset Management Llc has 4.38% invested in the company for 1.06 million shares. The Maryland-based Df Dent & Co Inc has invested 3.95% in the stock. Tremblant Capital Group, a New York-based fund reported 759,826 shares.#img1#
Ratings analysis reveals 78% of Red Hat’s analysts are positive. Out of 30 Wall Street analysts rating Red Hat, 25 give it “Buy”, 1 “Sell” rating, while 6 recommend “Hold”. The lowest target is $75 while the high is $98. The stock’s average target of $90.17 is 48.81% above today’s ($61.69) share price. RHT was included in 26 notes of analysts from August 25, 2015. Cowen & Co upgraded the shares of Red Hat in a note on February 4 to “Outperform” rating. Mizuho maintained RHT’s stock on a December 18. Mizuho has “Buy” rating and $92.0 PR. BMO Capital Markets initiated Red Hat’s stock on January 8 with “Outperform” rating. RBC Capital Markets maintained it ^with/to4^ “Outperform” rating and $95 PT in December 18 note. Finally, Needham maintained the shares of Red Hat with “Buy” rating in a December 18 note.