Oracle Stock Rating Reaffirmed by Citigroup Inc. (ORCL)
Oracle (NASDAQ:ORCL)‘s stock had its “buy” rating reaffirmed by research analysts at Citigroup Inc. in a report released on Monday. They currently have a $45.00 price objective on the stock, down from their previous price objective of $48.00. Citigroup Inc.’s price objective would suggest a potential upside of 7.94% from the company’s current price.
The analysts wrote, “One key component to the ORCL story is the pending ramp of the new 12c database software product, the first major new database release since 11g was launched in ’07. The 12c product has two key feature additions, a multi-tenant layer (which went GA in the fall of 2013) and an in-memory option (expected to be out later this summer). “In our view, Oracle shares include only a modest premium for the potential 12c revenue lift, in part because ORCL itself has been tempering near-term expectations and because feedback from large beta customers is hard to obtain. Last week we reached out to three CIOs and 12c evaluation teams at F500 companies and wanted to pass along their feedback.”
Oracle (NASDAQ:ORCL) traded up 0.74% during mid-day trading on Monday, hitting $42.00. 4,079,637 shares of the company’s stock traded hands. Oracle has a 52-week low of $29.86 and a 52-week high of $42.17. The stock has a 50-day moving average of $40.55 and a 200-day moving average of $37.68. The company has a market cap of $187.3 billion and a price-to-earnings ratio of 17.43.
Oracle (NASDAQ:ORCL) last released its earnings data on Tuesday, March 18th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Oracle will post $2.91 EPS for the current fiscal year.
ORCL has been the subject of a number of other recent research reports. Analysts at Deutsche Bank raised their price target on shares of Oracle from $45.00 to $48.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Oracle from $43.00 to $46.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Societe Generale upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. They now have a $47.00 price target on the stock, up previously from $38.00. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $41.03.
In other Oracle news, Director Hector Garcia-Molina sold 2,500 shares of Oracle stock on the open market in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $41.83, for a total transaction of $104,575.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $209,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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