Oracle Corp. Given New $43.00 Price Target at Canaccord Genuity (ORCL)
Equities research analysts at Canaccord Genuity increased their target price on shares of Oracle Corp. (NASDAQ:ORCL) from $39.00 to $43.00 in a research note issued to investors on Friday, Analyst Ratings News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 12.54% from the company’s current price.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $38.21, for a total transaction of $95,525.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $191,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on ORCL. Analysts at TheStreet reiterated a “buy” rating on shares of Oracle Corp. in a research note to investors on Sunday, January 5th. Finally, analysts at UBS AG raised their price target on shares of Oracle Corp. from $37.00 to $39.00 in a research note to investors on Thursday, December 19th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $37.52.
Oracle Corp. (NASDAQ:ORCL) traded down 0.21% on Friday, hitting $38.21. 14,092,823 shares of the company’s stock traded hands. Oracle Corp. has a 52 week low of $29.86 and a 52 week high of $38.77. The stock has a 50-day moving average of $36.43 and a 200-day moving average of $33.8. The company has a market cap of $171.8 billion and a P/E ratio of 16.29.
Oracle Corp. (NASDAQ:ORCL) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Oracle Corp. will post $2.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, January 28th. Shareholders of record on Tuesday, January 7th will be paid a dividend of 0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, January 3rd.
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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