UBS Maintains a 'Neutral' on Red Hat (RHT); Time to Play Defense
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Price: $48.49 -1.76%
Rating Summary:
12 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade RHT Now!
UBS maintains a 'Neutral' on Red Hat (NYSE: RHT) price target of $59.00 (from $57.00).
Analyst, Brent Thill, lowered FY13 EPS estimates from $1.20 to $1.19 and revenues from $1.36 to $1.335 billion. For FY14, EPS gets lowered from $1.46 to $1.42. Revenues got cut from $1.60 to $1.56 billion.
In his note though, Thill does seem to be sticking up for Red Hat, saying despite the Billing miss (vs. estimates) it was up 16% year-over-year. The stock is lower and Thill believes the Street over-exacerbated the Billling and discounted positive bookings commentary.
Thill concluded by saying, "However in near-term Europe/seasonal summer slowdown/few catalysts likely equals a range bound stock, and we are concerned by ‘canary in coalmine’ training/services slowdown +1% q/q vs. +11% Q1 2yr average."
For an analyst ratings summary and ratings history on Red Hat click here. For more ratings news on Red Hat click here.
Shares of Red Hat closed at $56.50 yesterday, with a 52 week range of $31.77-$62.75.
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Analyst, Brent Thill, lowered FY13 EPS estimates from $1.20 to $1.19 and revenues from $1.36 to $1.335 billion. For FY14, EPS gets lowered from $1.46 to $1.42. Revenues got cut from $1.60 to $1.56 billion.
In his note though, Thill does seem to be sticking up for Red Hat, saying despite the Billing miss (vs. estimates) it was up 16% year-over-year. The stock is lower and Thill believes the Street over-exacerbated the Billling and discounted positive bookings commentary.
Thill concluded by saying, "However in near-term Europe/seasonal summer slowdown/few catalysts likely equals a range bound stock, and we are concerned by ‘canary in coalmine’ training/services slowdown +1% q/q vs. +11% Q1 2yr average."
For an analyst ratings summary and ratings history on Red Hat click here. For more ratings news on Red Hat click here.
Shares of Red Hat closed at $56.50 yesterday, with a 52 week range of $31.77-$62.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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