Barclays Boosts Oracle Price Target to $50.00 (ORCL)
Stock analysts at Barclays raised their price objective on shares of Oracle (NASDAQ:ORCL) from $47.00 to $50.00 in a report issued on Thursday. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would suggest a potential upside of 19.36% from the company’s current price.
Oracle (NASDAQ:ORCL) traded down 0.68% during mid-day trading on Thursday, hitting $41.613. 7,145,563 shares of the company’s stock traded hands. Oracle has a 52 week low of $31.85 and a 52 week high of $43.19. The stock has a 50-day moving average of $40.63 and a 200-day moving average of $40.43. The company has a market cap of $185.4 billion and a price-to-earnings ratio of 17.61.
Oracle (NASDAQ:ORCL) last released its earnings data on Thursday, June 19th. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Oracle will post $3.16 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at DA Davidson initiated coverage on shares of Oracle in a research note on Tuesday, August 26th. They set a “neutral” rating and a $46.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Oracle has an average rating of “Buy” and a consensus target price of $42.84.
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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