After Today’s Huge Increase, Is Red Hat Inc’s Near-Term Analysis Positive?

The stock of Red Hat Inc (NYSE:RHT) is a huge mover today! The stock is up 2.29% or $1.53 after the news, hitting $68.46 per share. About 1.70M shares traded hands. Red Hat Inc (NYSE:RHT) has declined 15.36% since July 31, 2015 and is downtrending. It has underperformed by 10.51% the S&P500. The move comes after 9 months positive chart setup for the $12.38 billion company. It was reported on Mar, 8 by We have $112.96 PT which if reached, will make NYSE:RHT worth $8.05B more.

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 $56.06 million for 55.21 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.

Out of 30 analysts covering Red Hat (NYSE:RHT), 25 rate it “Buy”, 1 “Sell”, while 6 “Hold”. This means 78% are positive. Red Hat was the topic in 28 analyst reports since August 25, 2015 according to StockzIntelligence Inc.

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.”

The institutional sentiment increased to 1.17 in 2015 Q3. Its up 0.03, from 1.14 in 2015Q2. The ratio increased, as 43 funds sold all Red Hat Inc shares owned while 148 reduced positions. 66 funds bought stakes while 158 increased positions. They now own 152.76 million shares or 9.93% less from 169.60 million shares in 2015Q2.

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.

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