Wednesday, June 19, 2013

Red Hat (RHT) Reports 1Q'14 Results

Red Hat (RHT) reported 1Q'14 results after the market closed today (02013.06.19).
"The first quarter was a solid start to Fiscal 2014, with both revenue and profitability coming in above the high-end of our guidance. We delivered mid-teens revenue growth driven by customer demand for innovative open source technologies based on a high-value subscription model." -- Jim Whitehurst, President and CEO

I liked this: "Total cash, cash equivalents and investments as of May 31, 2013 was $1.22 billion after repurchasing approximately $179 million, or approximately 3.6 million shares, of common stock in the first quarter."

RHT closed on 02013.06.19 at $46.24. 52-week range: $44.92 - $60.00.

[update::02013.06.20] From this morning (02013.06.20): "Wells Fargo keeps an Outperform rating on the stock." RHT has been making new 52-week lows, so it has not been an 'outperforming' stock. Use of the word "keeps" implies Wells Fargo has had an 'outperform' rating on RHT for an interval of time. Via Google I found this from 02012:03.29: "Wells Fargo maintains an 'Outperform' on Red Hat (NYSE: RHT) price target range raised from $50-55 to $65-$70."

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