Red Hat Inc (NYSE:RHT) shares are trading $4.00 above Monday's close price of $82.20 at $86.20 in after-hours trading.
Shares traded as high as $86.88 immediately after its Q4 report; That included being inline for EPS along with slight revenue beat of $11 million. What's driving the price higher is stronger FY 2017 EPS and sales guidance.
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After the report, the stock distanced itself from the close of $82.20 and easily surpassed its former all-time high from February at $85.01. That level had been revisited earlier this month, but was unable to surpass, failing on three different rallies that stalled in the upper $84.00 handle.
At this time (5:00 p.m. ET), it has backed off that after-hours high and is struggling to remain in the $86.00 handle. In order to post a new all-time closing high on Tuesday, it will need to the end the session above its February 24 close of $84.86.