Note: The Skinny blog is written by Rick Smith, editor and co-founder of WRAL Tech Wire and business editor of WRAL.com.

RALEIGH, N.C. – Jim Cramer, host of “Mad Money” on CNBC, likes Red Hat (NYSE: RHT) stock. In the rubble of recent Wall Street chaos, Cramer says Chief Executive Officer Jim Whitehurst and company are coming off a
“spectacular quarter.” But the stock is lagging under analysts’ price targets.

Cramer hosted Whitehurst for an interview Tuesday. They have talked before. And Cramer gave Whitehurst plenty of air time.

The entire piece on Red Hat – complete with the firm’s trademark red fedoras – lasts nearly seven minutes. Whitehurst told Cramer that business is booming. But some on the Street aren’t listening.

The interview came on the day Red Hat announced its $136 million purchase of cloud software technology firm Glusters. Initial reaction to the deal wasn’t positive with investors driving down shares $1.87 or 4.6 percent just after the market opened. (Read details here.)

Red Hat shares rallied to close at $39.89, down 57 cents for the day. The Hatters have slipped a bit in the eyes of the Street players. Shares did trade as high as $43.65 on Sept. 28, and Red Hat is well below its 52-week high of $49 recorded last December.

Shares also are trading well below analysts’ collective target price of between $48.77 and $50.

Seven analysts rate the stock as a “strong buy” while another list it as a “buy,” according to data from Thomson First Call. Five rate it a “hold,” one as “under perform” and two as a “sell.”

Watch the full interview here.

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