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Red Hat Stocks Slip Following Goldman Sachs Announcement

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Red Hat has been doing well recently, but some analysts believe that this tech company with Westford roots might be hitting its peak soon.

(W) NetScout Red HatGoldman Sachs downgraded its recommendation on Red Hat stocks (NYSE: RHT) from “neutral” to “sell” last week, sending the stock down by 3.48% following a close of $67.44 on Jan. 14.

The company’s analysis put a stock ceiling of $70 over the next 12 months over billing concerns in FY’ 16.

Red Hat’s stock has rebounded somewhat, selling at approximately $65 on Jan. 20 following a low of $64.28 at the opening of the market on Monday.