Oracle Now Covered by Analysts at DA Davidson (ORCL)
Equities researchers at DA Davidson assumed coverage on shares of Oracle (NASDAQ:ORCL) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $46.00 price target on the stock. DA Davidson’s price target indicates a potential upside of 9.94% from the stock’s previous close.
The analysts wrote, “Despite historically attractive fundamentals, we see no urgency to commit new capital to ORCL shares. Having reengineered its software applications to operate in a software-as-a-service (SaaS) model, Oracle has the potential and resources to become a significant force in the cloud. The company’s hardware business appears to have bottomed and should contribute to growth moving forward. That said, we would prefer to see a more consistent record of quarterly financial results meeting company guidance, further evidence of sustained organic growth in the cloud businesses, and demonstrated traction in upcoming product cycles.”
Shares of Oracle (NASDAQ:ORCL) opened at 41.84 on Tuesday. Oracle has a one year low of $31.56 and a one year high of $43.19. The stock’s 50-day moving average is $40.47 and its 200-day moving average is $40.27. The company has a market cap of $186.4 billion and a price-to-earnings ratio of 17.58.
Oracle (NASDAQ:ORCL) last announced its earnings results on Thursday, June 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.03. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $11.48 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that Oracle will post $3.16 EPS for the current fiscal year.
A number of other firms have also recently commented on ORCL. Analysts at Zacks reiterated a “neutral” rating on shares of Oracle in a research note on Friday, August 22nd. They now have a $44.00 price target on the stock. Separately, analysts at Atlantic Securities upgraded shares of Oracle from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 2nd. They now have a $48.00 price target on the stock, up previously from $39.00. Finally, analysts at Susquehanna raised their price target on shares of Oracle from $45.00 to $47.00 in a research note on Friday, June 20th. They now have a “positive” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.75.
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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