Needham & Company Reiterates a 'Buy' on Red Hat (RHT); Kickin' The Tires At Analyst Day
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Price: $187.71 --0%
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Red Hat (NYSE: RHT) price target of $63.00.
Analyst, Scott Zeller, said, "We attended the Red Hat analyst day yesterday, and found the tone and messaging to be consistent with last week’s earnings call, and there was no change to guidance. We also walked the event floor and spoke with partners, who suggest Linux virtualization may be getting closer as a catalyst. There was much speculation leading up to the analyst day that management would focus on revenue prospects for RHEV (virtualization) and Red Hat Storage (recent Gluster acquisition); while virtualization and storage were highlighted, we did not get the sense that a sudden change in subscription revenue would come in the near term from these offerings, which we estimate together are less than 5% of total RHT revenue."
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 $54.42 yesterday.
Analyst, Scott Zeller, said, "We attended the Red Hat analyst day yesterday, and found the tone and messaging to be consistent with last week’s earnings call, and there was no change to guidance. We also walked the event floor and spoke with partners, who suggest Linux virtualization may be getting closer as a catalyst. There was much speculation leading up to the analyst day that management would focus on revenue prospects for RHEV (virtualization) and Red Hat Storage (recent Gluster acquisition); while virtualization and storage were highlighted, we did not get the sense that a sudden change in subscription revenue would come in the near term from these offerings, which we estimate together are less than 5% of total RHT revenue."
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 $54.42 yesterday.
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