Red Hat (RHT) in Focus: Stock Goes Down 7%


Red Hat, Inc. (RHT) saw a big move last session, as the company’s shares fell nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for RHT, as the stock is down over 14% since Mar 6.
This software company has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for loss estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
RHT currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in Computer-Software industry include Dealertrack Technologies, Inc. (TRAK), Pegasystems Inc. (PEGA) and Cadence Design Systems Inc. (CDNS).  All these stocks carry a Zacks Rank #1 (Strong Buy).
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