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What Red Hat's Earnings Mean for Mutual Fund Investors (RHT)

Shauna O'Brien

|

Red Hat logo red and black
Technology company Red Hat (RHT) released its third quarter financial results on Thursday. Here’s what the results mean for mutual fund investors.

Inside the Results

Earnings

The company reported earnings of $48 million, or 26 cents per share. Adjusted income came in at 42 cents per share, above analysts’ estimate of 40 cents per share.

Revenue
Revenue rose 15% to $395 million. Analysts expected to see revenue of $451.39 million.

Good Headwinds in the Technology Space

The company has been benefiting from higher enterprise demand for its software used in data-centers. Its competitors, including Oracle (ORCL), have also been posting positive earnings. Although Red Hat has upside potential, it is still a very expensive stock from a valuation standpoint.

Mutual Funds to Watch

The mutual funds below may be a good option for investors seeking exposure to RHT. The three funds listed currently hold the largest stakes in the company.
Symbol Mutual Fund Stake
FDGRX Fidelity® Growth Company 3.51%
RPMGX T. Rowe Price Mid-Cap Growth 2.80%
PRGFX T. Rowe Price Growth Stock 2.28%

The Bottom Line

The funds listed above allow investors to gain exposure to a wide range of holdings. Investors interested in RHT may also be interested in Oracle (ORCL).

Shares of RHT are up 23% YTD.

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Receive email updates about best performers, news, CE accredited webcasts and more.

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Red Hat logo red and black

What Red Hat's Earnings Mean for Mutual Fund Investors (RHT)

Shauna O'Brien

|

Technology company Red Hat (RHT) released its third quarter financial results on Thursday. Here’s what the results mean for mutual fund investors.

Inside the Results

Earnings

The company reported earnings of $48 million, or 26 cents per share. Adjusted income came in at 42 cents per share, above analysts’ estimate of 40 cents per share.

Revenue
Revenue rose 15% to $395 million. Analysts expected to see revenue of $451.39 million.

Good Headwinds in the Technology Space

The company has been benefiting from higher enterprise demand for its software used in data-centers. Its competitors, including Oracle (ORCL), have also been posting positive earnings. Although Red Hat has upside potential, it is still a very expensive stock from a valuation standpoint.

Mutual Funds to Watch

The mutual funds below may be a good option for investors seeking exposure to RHT. The three funds listed currently hold the largest stakes in the company.
Symbol Mutual Fund Stake
FDGRX Fidelity® Growth Company 3.51%
RPMGX T. Rowe Price Mid-Cap Growth 2.80%
PRGFX T. Rowe Price Growth Stock 2.28%

The Bottom Line

The funds listed above allow investors to gain exposure to a wide range of holdings. Investors interested in RHT may also be interested in Oracle (ORCL).

Shares of RHT are up 23% YTD.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Popular Articles

Read Next

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