Oracle Given New $45.00 Price Target at Credit Suisse (ORCL)
Stock analysts at Credit Suisse upped their price target on shares of Oracle (NASDAQ:ORCL) from $40.00 to $45.00 in a report issued on Monday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target suggests a potential upside of 12.28% from the stock’s previous close.
Oracle (NASDAQ:ORCL) opened at 40.08 on Monday. Oracle has a one year low of $29.86 and a one year high of $42.00. The stock has a 50-day moving average of $39.27 and a 200-day moving average of $36.52. The company has a market cap of $178.7 billion and a price-to-earnings ratio of 16.76.
Oracle (NASDAQ:ORCL) last released its earnings data on Tuesday, March 18th. The company reported $0.68 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.70 by $0.02. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the company posted $0.65 earnings per share. Oracle’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Oracle will post $2.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, April 4th.
In other Oracle news, Director Hector Garcia-Molina unloaded 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $39.55, for a total value of $98,875.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $197,750. The sale was disclosed in a 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 JG Capital downgraded shares of Oracle from a “neutral” rating to an “underweight” rating in a research note on Tuesday, April 15th. They now have a $33.00 price target on the stock. Separately, analysts at Piper Jaffray raised their price target on shares of Oracle to $46.00 in a research note on Tuesday, April 1st. Finally, analysts at BMO Capital Markets raised their price target on shares of Oracle from $42.00 to $45.00 in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $39.82.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company provides cloud services as well as software and hardware products to other cloud service providers, both public and private.
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