That is a great ER report...
Last quarter ER was not good, RHT came down from $53 to $46 and continued to go down to $42.
This is the pattern. Using the reverse logic, RHT has good chance to run to $60
Will see what the analysts will tell us tomorrow..
Red Hat upgraded to Buy from Neutral at UBS
UBS upgraded Red Hat following the better than expected Q3 report citing strengthening fundamentals and billings growth. Price target raised to $58 from $53
You are not worried about the high PE and PEG? I feel I am the only one who thinks that's an issue (obviously I am alone because people keep buying it AH).
Well I got burned shorting before the close, and I still don't get why RHT is up, given its high valuation. Don't fight the tape is the answer, I guess.
When ER is good the market ignored..like AMZN, NFLX.
Look at AAPL.. So cheap..should be at $1500