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Red Hat Considered The 'Best Positioned' Software Company By MKM

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Red Hat Considered The 'Best Positioned' Software Company By MKM

In a note to investors Thursday, MKM analyst Kevin Buttigieg admitted to several disappointing features of Red Hat Inc (NYSE: RHT)’s recent earnings release.

  • Billings growth was good, but some slowing was evident.
  • Acquisitions put pressure on cash flows and affected guidance.
  • Speaking of guidance, it was mixed, with revenue reaffirmed but EPS estimated lower by $0.03

Despite these bearish indicators, Buttigieg continues to see Red Hat as one of the best names in infrastructure software. However, he retains his Neutral rating based on the height of the current market valuation and the pressure acquisitions will place on margins and cash flow.

Latest Ratings for RHT

DateFirmActionFromTo
Jul 2019SuspendsNot Rated
Jun 2019DowngradesOutperformMarket Perform
Nov 2018DowngradesOverweightSector Weight

View More Analyst Ratings for RHT
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Posted-In: Kevin Buttigieg MKMAnalyst Color Analyst Ratings

 

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