Oracle Corporation (NYSE:ORCL) had its price target boosted by equities researchers at Barclays PLC from $55.00 to $59.00 in a report released on Friday. The firm presently has an “overweight” rating on the enterprise software provider’s stock. Barclays PLC’s price target points to a potential upside of 11.62% from the company’s current price.
Several other equities analysts have also recently weighed in on ORCL. UBS AG reaffirmed a “buy” rating and set a $52.00 target price (up previously from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Oracle Corporation in a research note on Friday. Mitsubishi UFJ Financial Group reaffirmed a “buy” rating and set a $63.00 target price on shares of Oracle Corporation in a research note on Friday. J P Morgan Chase & Co set a $55.00 target price on Oracle Corporation and gave the company a “buy” rating in a research note on Friday. Finally, Vetr cut Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 target price on the stock. in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.39.
Shares of Oracle Corporation (ORCL) traded down 7.3037% on Friday, hitting $48.9344. 38,684,948 shares of the stock traded hands. The company’s 50 day moving average is $50.01 and its 200 day moving average is $46.93. The stock has a market cap of $202.43 billion, a price-to-earnings ratio of 22.1423 and a beta of 1.05. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Oracle Corporation will post $2.94 EPS for the current year.
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In other news, Director Bruce R. Chizen sold 206,250 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the transaction, the director now owns 63,985 shares of the company’s stock, valued at $3,183,253.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Boskin sold 150,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $50.69, for a total value of $7,603,500.00. Following the transaction, the director now directly owns 99,454 shares in the company, valued at approximately $5,041,323.26. The disclosure for this sale can be found here. Insiders have sold 1,813,750 shares of company stock worth $91,393,788 in the last ninety days. 29.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of ORCL. Macquarie Group Ltd. lifted its stake in shares of Oracle Corporation by 6,353.4% during the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after acquiring an additional 18,351,920 shares during the period. BT Investment Management Ltd acquired a new position in shares of Oracle Corporation during the second quarter valued at $459,738,000. Harris Associates L P lifted its stake in shares of Oracle Corporation by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the period. FMR LLC lifted its stake in shares of Oracle Corporation by 24.8% during the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after acquiring an additional 6,577,297 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Oracle Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares during the period. 58.67% of the stock is currently owned by institutional investors and hedge funds.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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