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Zacks Investment Research announced Red Hat Inc (NYSE:RHT), raising its target price to $89.00 today

Red Hat Inc (NYSE:RHT) had its target price raised to $89.00 by Zacks Investment Research in a report released 10/05/2016. The new target price indicates a possible upside of 0.12% based on the company's last stock close price.

Previously on Monday October 03, 2016, Vetr Inc. reported about Red Hat Inc (NYSE:RHT) raised the target price from $0.00 to $86.66. At the time, this indicated a possible upside of 0.07%.

Yesterday Red Hat Inc (NYSE:RHT) traded -1.01% lower at $79.68. The company’s 50-day moving average is $75.84 and its 200-day moving average is $74.79. The last stock close price is up 4.02% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,636,617 shares of the stock were exchanged, up from an average trading volume of 1,588,700

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Red Hat Inc (NYSE:RHT)

Red Hat Inc has a 52 week low of $59.59 and a 52 week high of $84.44 with a P/E ratio of 65.43 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its target price, a total of 30 firms have reported on the stock. The consensus target price is $88.13 with 8 firms rating the stock a strong buy, 18 firms rating the stock a buy, 4 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Red Hat Inc (NYSE:RHT)

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. Its products and services include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services. Its infrastructure-related offerings include Red Hat Enterprise Linux, Red Hat Satellite and Red Hat Enterprise Virtualization. Its application development-related and other technology offerings include Red Hat JBoss Middleware, Red Hat cloud offerings, Red Hat Mobile and Red Hat Storage. Its consulting services include upgrade planning, platform migrations, solution integration and application development.

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