In the most recent quarter the company reported earnings of $0.3 that ended on 2015-02-28. Given that the stock’s average daily volume over the last month has been 1.11 million shares a day, this represents a pretty substantial spike over the norm.
Looking ahead to full year estimates, analysts have placed the consensus earnings per share estimate for the current year at $1.21.
A number of other analysts have also recently weighed in on RHT.
According to analysts, Red Hat, Inc.
Red Hat, Inc. (NYSE:RHT) rose 0.59% or 0.46 points on Monday and made its way into the gainers of the day.
Analysts polled by Thomson Reuters had projected earnings of 41 cents a share on revenue of $473 million. Analysts at JPMorgan Chase & Co. reiterated an overweight rating and set an $80.00 price target on shares of Red Hat in a research note on Thursday. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating and set an $85.00 price target on shares of Red Hat in a research note on Tuesday, May 19th. The shares trade in a 52-week range of $52.53 to $79.35. The 12-month average TP is $79.52, implying a 1.1% upward potential over the trading price of $78.64, in the pre-market session. (NYSE:RHT) rose by 0.37% in the past week and 0.54% for the last 4 weeks.
The company has beaten Wall Street’s earnings expectations in each of the past four quarters. The company has a market cap of $14.35 billion and a price-to-earnings ratio of 82.38.
In the same quarter of previous year, the company earned 34 cents per share on sales of $423.75 million. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. On a shorter term basis, analysts have a projected price target of $78.333 on the equity.
Red Hat, Inc. (Red Hat) is a global provider of open source software solutions, using a community-powered approach to develop and offer operating system, middleware, virtualization, storage and cloud technologies.