Red Hat, Inc. stock performance trend indicates that the stock price has rallied 17.8% in the past 12 Weeks , but analyzing the 6 month charts for the stock , the price continues to stay positive and keep the rally at 3.49% . Looking at the past 52 week period, the stock price is up at 12.9% . Relative price strength is a important factor used by wealth management firms while investing in stocks because the indicator compares the stock performance with the overall market. The relative price strength of Red Hat, Inc. has a positive value of 3.42 compared to overall market.Red Hat, Inc. is having a Relative Strength Index of 65.39 which indicates the stock is not yet over sold or over bought based on the technical indicators.
Red Hat, Inc. (NYSE:RHT) has climbed 1.75% in the past week and advanced 1.27% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 1.51% and the outperformance has advanced to 0.12% for the last 4 weeks period.
For the current week, the company shares have a recommendation consensus of Buy. Red Hat, Inc. (NYSE:RHT) stock ended Friday session in the red zone in a volatile trading. The stock closed down 0.45 points or 0.54% at $83.65 with 1,276,330 shares getting traded. Post opening the session at $84.44, the shares hit an intraday low of $83.61 and an intraday high of $84.63 and the price was in this range throughout the day. The company has a market cap of $14,914 million and the number of outstanding shares has been calculated to be 178,287,990 shares. The 52-week high of Red Hat, Inc. (NYSE:RHT) is $85.01 and the 52-week low is $68.54.
Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Company shares were Downgraded by Robert W. Baird on Feb 28, 2017 to Neutral, Raises Price Target to $ 90 from a previous price target of $85 .Red Hat Inc was Initiated by Wells Fargo to Outperform on Jan 11, 2017. Red Hat Inc was Downgraded by Stifel on Dec 22, 2016 to Hold, Lowers Price Target to $ 70 from a previous price target of $87 .Red Hat Inc was Downgraded by BMO Capital Markets on Dec 22, 2016 to Market Perform, Lowers Price Target to $ 75 from a previous price target of $89 .Red Hat Inc was Reiterated by Mizuho on Dec 22, 2016 to Buy, Lowers Price Target to $ 80 from a previous price target of $88 .
Company has reported several Insider transactions to the SEC, on Mar 2, 2017, James M Whitehurst (CEO & President) sold 5,099 shares at 83.69 per share price.On Jan 23, 2017, Delisa Alexander (EVP, Chief People Officer) sold 16,712 shares at 73.67 per share price.On Oct 4, 2016, Michael Cunningham (EVP, General Counsel) sold 15,000 shares at 80.42 per share price.
Red Hat Inc Last issued its quarterly earnings results on Dec 21, 2016. The company reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.03. Analyst had a consensus of $0.58. The company had revenue of $615.30 million for the quarter, compared to analysts expectations of $618.46 million. The companys revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
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.