Daiwa Capital Markets started coverage on shares of Oracle (NYSE:ORCL – Get Rating) in a report issued on Friday, The Fly reports. The brokerage set a “neutral” rating on the enterprise software provider’s stock.
Other equities analysts have also issued research reports about the company. JMP Securities restated a “hold” rating on shares of Oracle in a research note on Tuesday, December 21st. Societe Generale upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Friday, March 11th. JPMorgan Chase & Co. set a $110.00 price target on Oracle in a research note on Friday, December 10th. Cowen cut their price target on Oracle from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 9th. Finally, Jefferies Financial Group set a $80.00 target price on Oracle in a research note on Tuesday, March 15th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.36.
NYSE:ORCL opened at $82.73 on Friday. Oracle has a twelve month low of $69.91 and a twelve month high of $106.34. The company has a market cap of $220.74 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.61 and a beta of 0.82. The stock has a fifty day simple moving average of $79.30 and a 200-day simple moving average of $87.55.
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Oracle (NYSE:ORCL – Get Rating) last announced its quarterly earnings results on Thursday, March 10th. The enterprise software provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $10.51 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Oracle had a net margin of 18.08% and a negative return on equity of 383.80%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. On average, analysts forecast that Oracle will post 4.01 EPS for the current fiscal year.
Oracle announced that its board has approved a share buyback program on Thursday, December 9th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the enterprise software provider to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Charles W. Moorman bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 20th. The stock was purchased at an average price of $83.76 per share, with a total value of $1,256,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 43.40% of the company’s stock.
A number of large investors have recently made changes to their positions in ORCL. Norges Bank acquired a new position in Oracle in the fourth quarter valued at approximately $947,274,000. Marathon Asset Mgmt Ltd purchased a new stake in shares of Oracle in the third quarter valued at approximately $331,932,000. Two Sigma Advisers LP increased its position in shares of Oracle by 564.5% in the third quarter. Two Sigma Advisers LP now owns 3,862,200 shares of the enterprise software provider’s stock valued at $336,513,000 after buying an additional 3,281,000 shares in the last quarter. BlackRock Inc. increased its position in shares of Oracle by 1.6% in 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 buying an additional 1,886,260 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Oracle in the fourth quarter valued at approximately $156,466,000. 42.33% of the stock is owned by institutional investors.
Oracle Company Profile (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.
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