MKM Cuts Fair Value Estimate on Red Hat (RHT)
Tweet
Share
E-mailGet Alerts RHT Hot Sheet
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
Join SI Premium – FREE
MKM Partners maintained a Neutral rating on Red Hat (NYSE: RHT) and reduced their fair value estimate to $60.00 (from $65.00).
“Reported billings increased 15% y/y to $349 million vs. our $346.3 million estimate This represents a slight deceleration from Q1 growth of 16%,” said Enterprise Software analyst Israel Hernandez . “For shares to maintain recent momentum, we believe billings needed to grow 20%.”
Hernandez also noted the weakness in services, and as a result tweaked FY13 estimates to $1.325 billion and EPS of $1.17.
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 $57.54 yesterday.
“Reported billings increased 15% y/y to $349 million vs. our $346.3 million estimate This represents a slight deceleration from Q1 growth of 16%,” said Enterprise Software analyst Israel Hernandez . “For shares to maintain recent momentum, we believe billings needed to grow 20%.”
Hernandez also noted the weakness in services, and as a result tweaked FY13 estimates to $1.325 billion and EPS of $1.17.
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 $57.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
