Oracle Corp. Stock Rating Reaffirmed by Zacks (ORCL)
Oracle Corp. (NASDAQ:ORCL)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. They currently have a $34.00 price objective on the stock. Zacks‘ price objective suggests a potential upside of 3.69% from the company’s current price.
Zacks‘ analyst wrote, “Oracle reported mixed fourth quarter results. However, the company provided a positive guidance and an additional share buyback program. We believe that Oracle needs to improve top-line growth in order to boost investor confidence in the near term. We believe that the speedy adoption of engineered systems and cloud suites will drive incremental top-line growth going ahead. Moreover, improving sales execution will result in strong conversion as well as win rates in the near term. Hardware growth is also expected to rebound in the first quarter of 2014, driven by new product introductions. The recent partnerships with Salesforce will provide significant boost going forward. However, continuing macro-economic weakness and stiff competition from IBM remain major headwinds in the near term. Thus, we remain Neutral and set a price target of $34.00.”
ORCL has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Oracle Corp. (NASDAQ:ORCL) in a research note to investors on Friday, September 6th. Finally, analysts at Thomson Reuters/Verus upgraded shares of Oracle Corp. (NASDAQ:ORCL) from a “hold” rating to a “buy” rating in a research note to investors on Monday, August 26th.
Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $36.48.
Oracle Corp. (NASDAQ:ORCL) traded down 0.35% on Friday, hitting $32.6738. 7,473,251 shares of the company’s stock traded hands. Oracle Corp. has a 52-week low of $29.52 and a 52-week high of $36.43. The stock has a 50-day moving average of $32.50 and a 200-day moving average of $33.04. The company has a market cap of $151.3 billion and a P/E ratio of 14.51.
Oracle Corp. (NASDAQ:ORCL) last released its earnings data on Thursday, June 20th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by $0.01. The company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.12 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts predict that Oracle Corp. will post $2.89 earnings per share for the current fiscal year.
In other Oracle Corp. news, President Mark Hurd sold 500,000 shares of Oracle Corp. stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $32.23, for a total value of $16,115,000.00. Following the completion of the sale, the president now directly owns 1,000 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company’s software, hardware systems, and services businesses develops, manufactures, markets, hosts and supports database and middleware software, applications software, and hardware systems, with the latter consisting primarily of computer server and storage products.
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