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Red Hat Inc. (RHT) Rose To A New High After Q4 Profit Matched Expectations

Red Hat Inc. (RHT) reported fourth quarter EPS of $0.61 after the close Monday, up from $0.52 last year. The result was in line with analysts' expectations. The company expects to report first quarter EPS of $0.52 to $0.53 and full year EPS of $2.60 to $2.64. Street expectations are for EPS of $0.59 and $2.59.

Red Hat gapped up sharply Tuesday, but was range-bound throughout the session. Shares finished with a gain of 4.28 at $86.48 with volume at a 3-month high. Red Hat broke out of nearly a month and a half long trading range and set a new high for the year.

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