Red Hat Stock Hits New 52-Week High (RHT)

NEW YORK ( TheStreet) -- Red Hat (NYSE: RHT) hit a new 52-week high Thursday as it is currently trading at $62.41, above its previous 52-week high of $62.24 with 994,705 shares traded as of 10:40 a.m. ET. Average volume has been two million shares over the past 30 days.

Red Hat has a market cap of $11.54 billion and is part of the technology sector and computer software & services industry. Shares are up 45.8% year to date as of the close of trading on Wednesday.

Red Hat, Inc. provides open source software solutions to enterprises worldwide. It also offers enterprise-ready open source operating system platforms. The company has a P/E ratio of 82.1, above the average computer software & services industry P/E ratio of 79.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Red Hat as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Red Hat Ratings Report.

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