Oracle Corporation (NYSE:ORCL)‘s stock had its “buy” rating reiterated by investment analysts at Drexel Hamilton in a note issued to investors on Thursday. They currently have a $62.00 target price on the enterprise software provider’s stock. Drexel Hamilton’s price objective suggests a potential upside of 27.21% from the stock’s current price.
The analysts wrote, “We believe Oracle will at least meet our 1Q:FY18 revenue estimate of $9.03 billion (up 5% YoY; Street is at $9.03 billion) and slightly exceed our EPS projection of $0.61 (Street is at $0.60). Our model reflects a sales decline of 18% QoQ in 1Q:FY18 and better than the five-year average August quarter performance of down 22%. Recall, Oracle’s 1Q:FY18 outlook calls for sales to be up 4-6% YoY in CC and pro-forma EPS of $0.59-0.61. This earnings season, the companies in our software coverage delivered strong quarterly reports and this continued with the off-quarter updates in recent weeks.””
A number of other analysts also recently issued reports on ORCL. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Oracle Corporation in a report on Friday, May 19th. Zacks Investment Research downgraded shares of Oracle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Canaccord Genuity reissued a “buy” rating and issued a $49.00 price objective on shares of Oracle Corporation in a report on Friday, May 26th. OTR Global raised shares of Oracle Corporation to a “positive” rating in a report on Thursday, June 8th. Finally, Goldman Sachs Group, Inc. (The) set a $49.00 price objective on shares of Oracle Corporation and gave the company a “buy” rating in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.39.
Oracle Corporation (NYSE ORCL) opened at 48.74 on Thursday. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14. The company has a 50-day moving average of $49.96 and a 200 day moving average of $46.98. The firm has a market cap of $201.62 billion, a price-to-earnings ratio of 22.05 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last announced its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. Oracle Corporation’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities research analysts anticipate that Oracle Corporation will post $2.94 EPS for the current year.
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In other news, EVP W Corey West sold 150,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $51.39, for a total value of $7,708,500.00. Following the completion of the sale, the executive vice president now owns 177,988 shares in the company, valued at $9,146,803.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 200,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $50.94, for a total transaction of $10,188,000.00. Following the completion of the sale, the executive vice president now owns 130,977 shares of the company’s stock, valued at approximately $6,671,968.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,817,500 shares of company stock valued at $91,582,600. 29.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Oracle Corporation by 2.6% in 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 purchasing an additional 5,270,359 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Oracle Corporation by 2.5% in the second quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after purchasing an additional 4,678,977 shares during the last quarter. State Street Corp raised its holdings in shares of Oracle Corporation by 1.0% in the first quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock valued at $5,495,769,000 after purchasing an additional 1,187,802 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Oracle Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after purchasing an additional 1,521,879 shares during the last quarter. Finally, Harris Associates L P raised its holdings in shares of Oracle Corporation by 17.9% in 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 purchasing an additional 7,427,501 shares during the last quarter. Institutional investors own 58.67% of the company’s stock.
About Oracle Corporation
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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