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Fly News Breaks for June 22, 2018
RHT
Jun 22, 2018 | 05:15 EDT
Jefferies analyst John DiFucci says Red Hat's Q1 billings growth of 12% missed the 15% consensus while new subscription annual contract value declined by nearly 30% by his calculation. Management believes softness in the core middleware business will be temporary, but persistence into Q2 resulted in below-Street guidance, DiFucci tells investors a post-earnings research note. A quarter like this poses the question of "how much more," the analyst asks. He keeps a Hold rating on Red Hat with a $154 price target.
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