Better-than-expected results couldn’t help Red Hat (RHT) stock Tuesday, with shares of the enterprise software company succumbing to concerns over billing as well as a sharp market downturn. Red Hat shares were trading down almost 2% to near 72 in the stock market today , virtually wiping out gains from the prior day. Investors had bid up shares Monday ahead of the after-hours earnings report. Some analysts attributed the losses to the market’s
Like clockwork, Red Hat (RHT) seems to deliver an upside surprise on earnings just about every quarter. The question is: Do similar pleasantries await investors when the leading provider of Linux open-source software reports its fiscal Q2 earnings after the close Monday? Despite its earnings beats, Red Hat stock has taken a hit in the recent downturn. After hitting a 15-year, post-dot-com-boom high of 81.49 after reporting Q1 earnings in June, Red
Red Hat (RHT) stock brushed a more than 15-year high on Friday, for the third time in four days, as the No. 1 provider of open-source Linux software received at least four price target boosts after its fiscal Q1 earnings late Thursday beat expectations. “The company’s top-line growth continues to be driven by strong subscription revenue growth and solid large deal activity,” wrote William Blair & Co. analyst Bhavan Suri in a research note Friday.