Oracle (NYSE:ORCL)‘s stock had its “buy” rating restated by investment analysts at Drexel Hamilton in a research note issued on Tuesday. They presently have a $62.00 price objective on the enterprise software provider’s stock. Drexel Hamilton’s price objective indicates a potential upside of 22.85% from the stock’s previous close.
The analysts wrote, “We believe the new innovations announced at Oracle OpenWorld in early October can take Oracle’s cloud portfolio to a whole new level and we believe the stock can continue to move in an upward trajectory over the next year. At OpenWorld, Oracle unveiled the Oracle 18c Autonomous Database, described as the world’s first and only fully autonomous database” and a major database innovation for the company.””
Other research analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Oracle in a research note on Friday, September 15th. UBS restated a “buy” rating and set a $57.00 price target (up from $52.00) on shares of Oracle in a research note on Friday, September 15th. J P Morgan Chase & Co set a $55.00 price target on Oracle and gave the stock a “buy” rating in a research note on Friday, September 15th. Zacks Investment Research cut Oracle from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, Jefferies Group upped their price target on Oracle from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Thirteen equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.05.
Oracle (ORCL) opened at $50.47 on Tuesday. Oracle has a twelve month low of $38.30 and a twelve month high of $53.14. The company has a market capitalization of $207,004.89, a P/E ratio of 19.45, a P/E/G ratio of 1.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.63 and a quick ratio of 3.61.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. equities analysts anticipate that Oracle will post 2.68 EPS for the current fiscal year.
In other news, EVP Dorian Daley sold 25,776 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the completion of the sale, the executive vice president now owns 30,977 shares in the company, valued at $1,488,444.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $50.35, for a total transaction of $188,812.50. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,593.75. The disclosure for this sale can be found here. Insiders sold 305,776 shares of company stock valued at $14,821,999 in the last 90 days. 29.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ORCL. Acrospire Investment Management LLC lifted its position in Oracle by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors lifted its position in Oracle by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the period. Wealthcare Advisory Partners LLC lifted its position in Oracle by 81,200.0% in the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after purchasing an additional 2,436 shares during the period. TrimTabs Asset Management LLC lifted its position in Oracle by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after purchasing an additional 1,264 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in Oracle in the second quarter valued at about $129,000. Institutional investors and hedge funds own 57.70% of the company’s stock.
Oracle Company Profile
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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