Goldman Sachs Lifts Numbers on Red Hat (RHT) Following Strong Q4
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Price: $187.71 --0%
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs raised its price target on Neutral-rated Red Hat (NYSE: RHT) from $49 to $58 following better-than-expected Q4 results, but is keeping its Neutral rating.
The firm noted EPS benefited by roughly $0.02, due to a lower tax rate from a retroactive research tax credit, and higher other income. Goldman notes while revenue was strong, the upside in billings was even more impressive at $418 mn (+31% yoy) and well ahead of the Street's $368 million.
The firm is seeing the bar higher with cash flow guidance, the note. Goldman raised FY2013/FY2014/FY2015 CFO / share estimates increase by 8%/13%/13% to reflect management’s higher FY2013 CFO forecast. They raised FY12 EPS from $0.72 to $0.75, FY13 was lowered from $0.72 to $0.71, FY14 was raised from $0.88 to $0.92 and FY15 was established at $1.07.
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 $51.39 yesterday.
The firm noted EPS benefited by roughly $0.02, due to a lower tax rate from a retroactive research tax credit, and higher other income. Goldman notes while revenue was strong, the upside in billings was even more impressive at $418 mn (+31% yoy) and well ahead of the Street's $368 million.
The firm is seeing the bar higher with cash flow guidance, the note. Goldman raised FY2013/FY2014/FY2015 CFO / share estimates increase by 8%/13%/13% to reflect management’s higher FY2013 CFO forecast. They raised FY12 EPS from $0.72 to $0.75, FY13 was lowered from $0.72 to $0.71, FY14 was raised from $0.88 to $0.92 and FY15 was established at $1.07.
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 $51.39 yesterday.
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