Red Hat, Inc (NYSE:RHT) stock fell on Thursday a day after the corporation behind the Linux open source operating system presented a lower than anticipated revenue outlook.
Red Hat reported on late Wednesday that the company projects adjusted earnings in the range of 28 cents to 29 cents a share for the present quarter, on revenue of $320 million to $322 million. On average analysts are forecasting earnings of 29 cents a share on revenue of $331 million.
Some analysts also forecasted a bigger boost in bookings than the 16% boost the corporation announced for its fiscal Q1. Billings, a key revenue indicator, refers to revenue a corporation must defer until it provides the goods or services the money covers.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Oracle Corporation (NASDAQ:ORCL) decreased -2.39% to settle at $27.81, Microsoft Corporation (NASDAQ:MSFT) moved down -2.57% to end at $30.14 while Quest Software, Inc. (NASDAQ:QSFT) plunged -0.87% to finish on Thursday at $26.27.
Red Hat, Inc. (NYSE:RHT) on June 21, 2012 increased -6.19% to the closing price of $53.00. The overall volume in the last trading session was 10.78 million shares. Its fifty two week range was $31.77-$62.75. The total market capitalization remained $10.22 billion.
RHT is ahead its 52 week low with +66.82% and going down from its 52 week high price with -15.54%. RHT last month stock price volatility remained 3.67%. In its share capital RHT has 192.86 million outstanding shares among them 192.02 million shares have been floated in market exchange. RHT stock institutional ownership remained 94.62% while insider ownership included 0.47%.
The stock price of RHT is moving down from its 20 days moving average with -1.35% and remote negatively from 50 days moving average with -6.29%. RHT current year earnings per share experienced an addition with +36.61% while its current quarter performance remained +2.83%. Company’s beta coefficient included 1.31. Beta factors measures the amount of market risk associated with market trade.
DO NOT TRADE ANY STOCK WITHOUT LEVEL 2 STOCK QUOTES! QuoteDaddy.com delivers it's user with the most in-depth Level 2 Quotation System available on the Planet! NO Downloads, NO Widgets, NO Plugins required! Stay on TOP of your trades with QuoteDaddy.com! CLICK HERE TO START YOUR FREE 30-DAY TRIAL