Oracle (NYSE:ORCL – Get Rating) has been assigned a $82.00 price objective by Barclays in a note issued to investors on Friday, Borsen Zeitung reports. Barclays‘s price target indicates a potential upside of 8.84% from the company’s previous close.
Several other analysts also recently weighed in on the company. Stifel Nicolaus reduced their target price on Oracle from $83.00 to $72.00 in a report on Tuesday, June 14th. Cowen reduced their target price on Oracle from $107.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, June 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $75.00 target price on shares of Oracle in a report on Monday, June 27th. JPMorgan Chase & Co. set a $82.00 target price on Oracle in a report on Thursday, June 16th. Finally, Monness Crespi & Hardt reduced their price objective on Oracle from $126.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, June 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Oracle has a consensus rating of “Hold” and an average price target of $89.77.
Oracle Stock Performance
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Shares of NYSE:ORCL traded up $0.69 on Friday, hitting $75.34. 87,423 shares of the company’s stock were exchanged, compared to its average volume of 5,435,159. The firm’s 50-day moving average is $74.90 and its 200 day moving average is $74.91. The company has a market capitalization of $200.78 billion, a PE ratio of 31.39, a P/E/G ratio of 2.10 and a beta of 0.87. Oracle has a 1-year low of $63.76 and a 1-year high of $106.34.
Oracle (NYSE:ORCL – Get Rating) last released its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.14. The business had revenue of $11.84 billion during the quarter, compared to analysts’ expectations of $11.65 billion. Oracle had a negative return on equity of 193.58% and a net margin of 15.83%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. On average, analysts anticipate that Oracle will post 4.43 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Friday, June 17th. The stock was sold at an average price of $68.08, for a total value of $68,080,000.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $76,153,743.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Friday, June 17th. The stock was sold at an average price of $68.08, for a total value of $68,080,000.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $76,153,743.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward Screven sold 419,174 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total value 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 $172,538,671.86. The disclosure for this sale can be found here. Insiders have sold a total of 3,399,174 shares of company stock valued at $232,369,224 in the last quarter. 39.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Oracle by 1.6% during the fourth quarter. BlackRock Inc. now owns 119,247,252 shares of the enterprise software provider’s stock valued at $10,399,550,000 after acquiring an additional 1,886,260 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Oracle by 0.8% during the first quarter. First Eagle Investment Management LLC now owns 25,924,820 shares of the enterprise software provider’s stock valued at $2,144,760,000 after acquiring an additional 204,315 shares in the last quarter. FMR LLC grew its stake in shares of Oracle by 7.6% during the second quarter. FMR LLC now owns 18,430,838 shares of the enterprise software provider’s stock valued at $1,287,763,000 after acquiring an additional 1,299,311 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Oracle by 4.7% during the first quarter. Fisher Asset Management LLC now owns 16,758,831 shares of the enterprise software provider’s stock valued at $1,386,458,000 after acquiring an additional 757,743 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in shares of Oracle by 16.4% during the second quarter. Primecap Management Co. CA now owns 12,019,801 shares of the enterprise software provider’s stock valued at $839,823,000 after acquiring an additional 1,693,271 shares in the last quarter. 41.92% of the stock is 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.
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