Monness Believes Red Hat (NYSE: RHT) Still Has Room to Grow

By Austin Angelo

Monness analyst Brian White maintained a Buy rating on Red Hat (NYSE: RHT) today and set a price target of $200. The company’s shares closed on Friday at $174.99, close to its 52-week high of $177.70.

According to TipRanks.com, White is a top 100 analyst with an average return of 17.7% and a 69.3% success rate. White covers the Technology sector, focusing on stocks such as Salesforce.com, Alphabet Inc, and Cloudera Inc.

Red Hat has an analyst consensus of Moderate Buy, with a price target consensus of $170.50.

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The company has a one-year high of $177.70 and a one-year low of $88.75. Currently, Red Hat has an average volume of 1.77M.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock.

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Red Hat, Inc. engages in the provision of open source software solutions. The firm operates its business through the following segments: Americas, EMEA, Asia Pacific, and Corporate. The company was founded by Robert F. Young in March 1993 and is headquartered in Raleigh, NC.