Oracle Corporation (ORCL) Given “Buy” Rating at Drexel Hamilton
Oracle Corporation (NYSE:ORCL)‘s stock had its “buy” rating restated by analysts at Drexel Hamilton in a note issued to investors on Thursday. They currently have a $62.00 target price on the enterprise software provider’s stock. Drexel Hamilton’s price objective indicates a potential upside of 17.42% from the stock’s current price.
The analysts wrote, “We believe Oracle will at least meet our 1Q:FY18 revenue estimate of $9.03 billion (up 5% YoY; Street is at $9.03 billion) and slightly exceed our EPS projection of $0.61 (Street is at $0.60). Our model reflects a sales decline of 18% QoQ in 1Q:FY18 and better than the five-year average August quarter performance of down 22%. Recall, Oracle’s 1Q:FY18 outlook calls for sales to be up 4-6% YoY in CC and pro-forma EPS of $0.59-0.61. This earnings season, the companies in our software coverage delivered strong quarterly reports and this continued with the off-quarter updates in recent weeks.””
Other equities research analysts have also recently issued research reports about the company. Credit Suisse Group began coverage on Oracle Corporation in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 price objective for the company. KeyCorp reiterated a “buy” rating and issued a $61.00 price objective on shares of Oracle Corporation in a research note on Tuesday, July 18th. BidaskClub upgraded Oracle Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. MKM Partners reiterated a “neutral” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Oracle Corporation in a research note on Friday, June 23rd. Finally, Cowen and Company reiterated an “outperform” rating and issued a $55.00 price objective (up previously from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-two have issued a buy rating to the company’s stock. Oracle Corporation currently has an average rating of “Buy” and an average target price of $51.63.
Oracle Corporation (ORCL) opened at 52.80 on Thursday. The company has a 50-day moving average of $49.91 and a 200 day moving average of $46.85. The firm has a market cap of $218.42 billion, a P/E ratio of 23.89 and a beta of 1.05. Oracle Corporation has a one year low of $37.62 and a one year high of $52.98.
Oracle Corporation (NYSE:ORCL) last posted its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion during the quarter, compared to analysts’ expectations of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. Equities research analysts expect that Oracle Corporation will post $2.95 earnings per share for the current fiscal year.
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In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total value of $183,225.00. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at $885,587.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Kurian sold 750,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,813,750 shares of company stock worth $91,393,788. Company insiders own 29.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Intl Fcstone Inc. acquired a new stake in shares of Oracle Corporation in the second quarter valued at about $274,000. Lord Abbett & CO. LLC grew its stake in shares of Oracle Corporation by 26.8% in the second quarter. Lord Abbett & CO. LLC now owns 2,161,149 shares of the enterprise software provider’s stock valued at $108,360,000 after buying an additional 456,231 shares in the last quarter. Farmers National Bank grew its stake in shares of Oracle Corporation by 8.9% in the second quarter. Farmers National Bank now owns 4,640 shares of the enterprise software provider’s stock valued at $233,000 after buying an additional 380 shares in the last quarter. RNC Capital Management LLC grew its stake in shares of Oracle Corporation by 2.7% in the second quarter. RNC Capital Management LLC now owns 142,229 shares of the enterprise software provider’s stock valued at $7,131,000 after buying an additional 3,708 shares in the last quarter. Finally, Sentry Investment Management LLC grew its stake in shares of Oracle Corporation by 1.0% in the second quarter. Sentry Investment Management LLC now owns 238,819 shares of the enterprise software provider’s stock valued at $11,974,000 after buying an additional 2,416 shares in the last quarter. Institutional investors and hedge funds own 58.67% of the company’s stock.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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