NEW YORK (TheStreet) -- Red Hat (RHT - Get Report) stock closed up 2.06% to $78.89 on heavy trading volume on Monday ahead of the open source software provider's fiscal 2017 first quarter financial report, due out after Wednesday's market close.

The Raleigh, NC-based company is expected to deliver a year-over-year increase in earnings per share and revenue for the latest quarter.

Wall Street is anticipating earnings of 50 cents per share on revenue of $562.76 million for the quarter, compared with earnings of 44 cents per share on revenue of $481 million for the same quarter last year.

"While 1Q's are usually not thesis-changing quarters, RHT is coming off a slightly disappointing 4QF16 print... and in our view we need to see billings growth accelerate (we're modeling 1QF17 c/c billings growth of 15%) to get the stock above $80," Deutsche Bank analysts wrote in a recent note.

Analysts reaffirmed their "buy" rating and $95 price target on the stock ahead of the quarterly report.

By the end of the trading day, 1.77 million shares of Red Hat were traded, compared with its average daily volume of 1.25 million shares.

Separately, Red Hat has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income.

You can view the full analysis from the report here: RHT

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.