Oracle (NYSE:ORCL) had its price objective hoisted by equities researchers at Wedbush from $49.00 to $52.00 in a note issued to investors on Friday. The brokerage currently has a “neutral” rating on the enterprise software provider’s stock. Wedbush’s price target indicates a potential downside of 1.78% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Royal Bank of Canada upped their price objective on Oracle to $55.00 in a research note on Tuesday, December 18th. Sanford C. Bernstein restated a “buy” rating and issued a $57.00 price objective on shares of Oracle in a research note on Tuesday, December 18th. Standpoint Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $42.69 price objective for the company in a research note on Wednesday, December 26th. Goldman Sachs Group restated a “buy” rating and issued a $55.00 price objective on shares of Oracle in a research note on Monday, December 17th. Finally, Nomura set a $53.00 target price on shares of Oracle and gave the stock a “buy” rating in a report on Wednesday, December 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.77.
NYSE:ORCL opened at $52.94 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $219.15 billion, a PE ratio of 18.77, a P/E/G ratio of 1.75 and a beta of 1.08. Oracle has a one year low of $42.40 and a one year high of $53.47.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, March 14th. The enterprise software provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.59 billion. Oracle had a return on equity of 29.93% and a net margin of 10.01%. Oracle’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. Sell-side analysts expect that Oracle will post 3.07 EPS for the current fiscal year.
In other Oracle news, EVP Dorian Daley sold 6,302 shares of the stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $43.24, for a total transaction of $272,498.48. Following the completion of the transaction, the executive vice president now owns 77,919 shares of the company’s stock, valued at approximately $3,369,217.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $46.42, for a total transaction of $174,075.00. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,298,320.98. The disclosure for this sale can be found here. Insiders have sold a total of 42,552 shares of company stock valued at $1,945,486 in the last three months. Insiders own 32.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ORCL. Northern Trust Corp lifted its holdings in shares of Oracle by 0.6% in the 4th quarter. Northern Trust Corp now owns 40,340,189 shares of the enterprise software provider’s stock valued at $1,821,360,000 after acquiring an additional 238,058 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Oracle by 1.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 39,519,223 shares of the enterprise software provider’s stock valued at $2,037,611,000 after acquiring an additional 625,051 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Oracle by 0.5% in the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock valued at $1,396,803,000 after acquiring an additional 148,974 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Oracle by 13.1% in the 3rd quarter. Franklin Resources Inc. now owns 29,336,984 shares of the enterprise software provider’s stock valued at $1,512,636,000 after acquiring an additional 3,393,152 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Oracle in the 4th quarter valued at about $1,235,719,000. 46.80% of the stock is owned by institutional investors and hedge funds.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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