Oracle (NYSE:ORCL – Get Rating) had its target price increased by Morgan Stanley from $87.00 to $88.00 in a report released on Monday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the enterprise software provider’s stock. Morgan Stanley’s target price points to a potential upside of 19.05% from the stock’s current price.
Several other equities analysts also recently commented on the company. BNP Paribas downgraded Oracle from a “neutral” rating to an “underperform” rating and set a $79.00 price objective on the stock. in a research note on Tuesday, March 29th. Jefferies Financial Group dropped their target price on Oracle from $80.00 to $75.00 in a research report on Monday, May 23rd. StockNews.com assumed coverage on shares of Oracle in a research note on Thursday, March 31st. They set a “buy” rating for the company. Piper Sandler lowered Oracle from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $100.00 to $70.00 in a research note on Friday, March 11th. Finally, Exane BNP Paribas upgraded shares of Oracle from an “underperform” rating to a “neutral” rating in a research report on Tuesday, March 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Oracle has an average rating of “Hold” and an average target price of $91.74.
Shares of Oracle stock traded up $2.13 during trading hours on Monday, hitting $73.92. 66,859 shares of the company’s stock traded hands, compared to its average volume of 8,440,353. The stock has a market capitalization of $197.23 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.02 and a beta of 0.87. Oracle has a 12-month low of $66.72 and a 12-month high of $106.34. The company has a fifty day simple moving average of $75.60 and a 200-day simple moving average of $81.56.
Oracle (NYSE:ORCL – Get Rating) last posted its quarterly earnings results on Thursday, March 10th. The enterprise software provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.06). The company had revenue of $10.51 billion for the quarter, compared to the consensus estimate of $10.51 billion. Oracle had a net margin of 18.08% and a negative return on equity of 383.80%. Oracle’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. Sell-side analysts anticipate that Oracle will post 4.01 earnings per share for the current fiscal year.
In other news, Director Renee Jo James sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $84.11, for a total transaction of $504,660.00. Following the transaction, the director now directly owns 41,886 shares in the company, valued at approximately $3,523,031.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.40% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new stake in Oracle in the third quarter valued at $225,000. Ironwood Wealth Management LLC. raised its holdings in shares of Oracle by 19.0% in the second quarter. Ironwood Wealth Management LLC. now owns 5,336 shares of the enterprise software provider’s stock valued at $415,000 after buying an additional 852 shares during the last quarter. Morgan Stanley lifted its position in Oracle by 12.1% during the 2nd quarter. Morgan Stanley now owns 12,477,054 shares of the enterprise software provider’s stock worth $971,213,000 after acquiring an additional 1,342,602 shares during the period. Keudell Morrison Wealth Management lifted its holdings in shares of Oracle by 1.4% during the third quarter. Keudell Morrison Wealth Management now owns 10,860 shares of the enterprise software provider’s stock worth $946,000 after purchasing an additional 152 shares during the period. Finally, EagleClaw Capital Managment LLC boosted its holdings in shares of Oracle by 0.5% in the third quarter. EagleClaw Capital Managment LLC now owns 52,637 shares of the enterprise software provider’s stock valued at $4,585,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 42.33% of the company’s stock.
About Oracle (Get Rating)
Oracle Corporation provides products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Fusion cloud advertising and customer experience, and NetSuite applications suite.
Featured Articles
Receive News & Ratings for Oracle Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Oracle and related companies with MarketBeat.com’s FREE daily email newsletter.
