News articles about Red Hat (NYSE:RHT) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Red Hat earned a news impact score of 0.11 on Accern’s scale. Accern also gave headlines about the open-source software company an impact score of 46.0529404251241 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- $734.38 Million in Sales Expected for Red Hat, Inc. (RHT) This Quarter (americanbankingnews.com)
- Red Hat’s Container Technologies and Knowledge Were Chosen by SoftBank to Embrace DevOps – Business Wire (press release) (businesswire.com)
- Michael A. Kelly Sells 2,888 Shares of Red Hat, Inc. (RHT) Stock (americanbankingnews.com)
- Is the Stock In Play?: Red Hat Inc (NYSE: RHT) – Alpha Beta Stock (alphabetastock.com)
- Insider Selling: Red Hat, Inc. (RHT) EVP Sells 1,073 Shares of Stock (americanbankingnews.com)
Shares of Red Hat (NYSE:RHT) opened at 121.80 on Monday. The company has a market capitalization of $21.55 billion, a price-to-earnings ratio of 72.89 and a beta of 1.25. Red Hat has a 52-week low of $68.54 and a 52-week high of $122.36. The company’s 50-day moving average price is $112.18 and its 200-day moving average price is $98.26.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 13.39% and a return on equity of 28.72%. The company’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Equities research analysts forecast that Red Hat will post $2.79 EPS for the current fiscal year.
RHT has been the subject of several recent analyst reports. Zacks Investment Research downgraded Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies reiterated a “hold” rating and set a $100.00 price target on shares of Red Hat in a research note on Sunday, August 27th. Credit Suisse Group initiated coverage on Red Hat in a research note on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price target for the company. Moffett Nathanson initiated coverage on Red Hat in a research note on Wednesday, September 6th. They set a “buy” rating for the company. Finally, KeyCorp reiterated an “overweight” rating and set a $121.00 price target on shares of Red Hat in a research note on Friday, September 8th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and a consensus target price of $110.93.
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In other news, CFO Eric Ryan Shander sold 1,521 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the completion of the transaction, the chief financial officer now directly owns 9,913 shares in the company, valued at $991,101.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the transaction, the executive vice president now owns 38,150 shares of the company’s stock, valued at $4,591,734. The disclosure for this sale can be found here. Insiders have sold 35,693 shares of company stock valued at $4,078,446 over the last quarter. Company insiders own 0.66% of the company’s stock.
About Red Hat
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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