Oracle Corp. Upgraded to “Buy” at Deutsche Bank (ORCL)
Oracle Corp. (NASDAQ:ORCL) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $33.00 price objective on the stock, down from their previous price objective of $45.00. Deutsche Bank’s price target indicates a potential downside of 13.11% from the stock’s previous close.
The analysts wrote, “manageable problem”. He reported that the company is aggressively pivoting to the cloud to protect the company’s installed base and stemming the losses. Deutsche Bank commented, “In a nutshell, Oracle is only investable if its core database software business is tracking well, which it is, growing at a high single-digit clip while the core businesses of other mega-cap technology firms are struggling with zero growth given the twin forces of commoditization and price deflation. In our view, the new open source database alternatives are not body-checking Oracle just yet, Exadata sales are solid and a new 12c database launch adds zest to the fiscal 2015 outlook.”
Shares of Oracle Corp. (NASDAQ:ORCL) traded up 0.05% during mid-day trading on Wednesday, hitting $37.9996. 11,052,695 shares of the company’s stock traded hands. Oracle Corp. has a 1-year low of $29.86 and a 1-year high of $38.77. The stock’s 50-day moving average is $36.64 and its 200-day moving average is $33.95. The company has a market cap of $170.9 billion and a price-to-earnings ratio of 16.16.
Oracle Corp. (NASDAQ:ORCL) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Oracle Corp. will post $2.92 earnings per share 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.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer downgraded shares of Oracle Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday. They now have a $37.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Canaccord Genuity raised their price target on shares of Oracle Corp. from $39.00 to $43.00 in a research note to investors on Friday, January 17th. They now have a “buy” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Oracle Corp. in a research note to investors on Sunday, January 5th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Oracle Corp. currently has a consensus rating of “Buy” and an average price target of $37.95.
In other Oracle Corp. news, Director Hector Garcia-Molina unloaded 2,500 shares of the 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 of the company’s stock, valued at approximately $191,050. The sale was disclosed in a filing with the SEC, which is available at 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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