Diamonds and Dogs
Red Hat (RHT) is shining brightly. The software firm is up 6% to a 52 week high following in line earnings and a beat on revenue. Sales rose 15.7% year over year to $628.8 million. Billings were up 45% quarter or quarter to $986 million. Subscription revenue for the quarter was $560 million, up 17% year-over-year. Plenty of upgrades following the good earnings with price targets as high as $98 a share.
Digital Ally (DGLY) has no allies on Wall Street. The advanced video surveillance product company is down 8% following disappointing earnings. Digital Alley missed on sales and earnings estimates. The company said they entered 2017 with a strong balance sheet and liquidity, which should be able to support a higher level of product sales and shipments if anticipated orders are forthcoming. Keep your fingers crossed.