Red Hat (RHT) Shows Strength: Stock Adds 9.6% in Session

Red Hat, Inc. RHT was a big mover last session, as its shares rose almost 10% on the day. The move came after the company reported robust first-quarter 2018 results. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range $87.63 to $91.95 in the past one-month time frame.

None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Red Hat currently carries a Zacks Rank #3 (Hold).

A better-ranked stock in the Computer – Software space is Konami Holdings Corporation KNMCY, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

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