Equities research analysts at Guggenheim started coverage on shares of Oracle (NYSE:ORCL – Get Rating) in a research report issued on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $107.00 price target on the enterprise software provider’s stock. Guggenheim’s target price suggests a potential upside of 38.67% from the stock’s previous close.
A number of other analysts also recently issued reports on ORCL. Credit Suisse Group set a $115.00 target price on Oracle in a research note on Tuesday, June 14th. Exane BNP Paribas upgraded shares of Oracle from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 29th. Barclays set a $82.00 price target on shares of Oracle in a report on Tuesday, June 14th. BMO Capital Markets decreased their price objective on Oracle from $92.00 to $86.00 in a report on Tuesday, June 14th. Finally, Morgan Stanley raised their target price on Oracle from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Oracle has an average rating of “Hold” and an average target price of $89.77.
Oracle Stock Down 0.5 %
Shares of ORCL opened at $77.16 on Friday. Oracle has a 52-week low of $63.76 and a 52-week high of $106.34. The stock has a market cap of $205.63 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.19 and a beta of 0.87. The firm’s fifty day moving average is $71.99 and its two-hundred day moving average is $75.45.
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Oracle (NYSE:ORCL – Get Rating) last posted its quarterly earnings results on Monday, June 13th. The enterprise software provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.14. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The firm had revenue of $11.84 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the business posted $1.40 earnings per share. Oracle’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Oracle will post 4.43 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $68.08, for a total transaction of $68,080,000.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $76,153,743.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Edward Screven sold 419,174 shares of Oracle stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the completion of the transaction, the insider now directly owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $68.08, for a total value of $68,080,000.00. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $76,153,743.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,399,174 shares of company stock valued at $232,369,224. 39.10% of the stock is owned by company insiders.
Institutional Trading of Oracle
Institutional investors and hedge funds have recently made changes to their positions in the stock. Evolution Advisers Inc. acquired a new stake in Oracle in the 4th quarter worth about $33,000. Steward Financial Group LLC acquired a new stake in shares of Oracle during the 1st quarter worth $33,000. Ulland Investment Advisors LLC raised its position in shares of Oracle by 469.0% in the 1st quarter. Ulland Investment Advisors LLC now owns 404 shares of the enterprise software provider’s stock worth $33,000 after buying an additional 333 shares during the period. Bivin & Associates Inc. acquired a new position in Oracle in the fourth quarter valued at $35,000. Finally, Outfitter Financial LLC purchased a new stake in Oracle during the fourth quarter valued at about $43,000. 42.33% of the stock is currently owned by hedge funds and other institutional investors.
About Oracle
Oracle Corporation offers 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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
Further Reading
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