Oracle Corporation (ORCL) Stock Rating Upgraded by Zacks Investment Research
Oracle Corporation (NYSE:ORCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $59.00 price target on the enterprise software provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.62% from the stock’s current price.
According to Zacks, “Oracle is benefiting from significant momentum in the SaaS and PaaS offerings. We believe the company’s growing cloud market share will continue to drive top-line growth for the foreseeable future. The stock has outperformed the industry on a year-to-date basis driven by these factors. The recent collaboration with Mitshubishi and addition of AI and machine learning features in Internet of Things (IoT) Cloud offerings is positive. NetSuite continues to expand customer base and was recently named as a leader among B2B commerce suites for midsize organizations by Forrester Wave report. Meanwhile, estimates have been going up lately ahead of the company's Q1 earnings release. The company has mixed record of earnings surprises in recent quarters. However, higher investments on IaaS will affect gross margin expansion in the near-term.”
Several other research firms have also recently issued reports on ORCL. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price objective on shares of Oracle Corporation in a research report on Monday. Vetr cut Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 price target for the company. in a research report on Tuesday. Sanford C. Bernstein restated an “outperform” rating and issued a $54.00 price target on shares of Oracle Corporation in a research report on Tuesday, June 13th. Moffett Nathanson initiated coverage on Oracle Corporation in a research report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) set a $49.00 price target on Oracle Corporation and gave the company a “buy” rating in a research report on Monday, June 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have assigned a buy rating to the company. Oracle Corporation has a consensus rating of “Buy” and a consensus price target of $51.76.
Oracle Corporation (NYSE:ORCL) traded up 0.11% during midday trading on Thursday, reaching $52.86. 21,901,610 shares of the company were exchanged. The company has a 50 day moving average of $50.01 and a 200-day moving average of $46.93. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14. The company has a market capitalization of $218.67 billion, a price-to-earnings ratio of 23.92 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. Oracle Corporation’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, equities research analysts anticipate that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
In other news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $51.39, for a total value of $7,708,500.00. Following the completion of the transaction, the executive vice president now owns 177,988 shares in the company, valued at approximately $9,146,803.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction that occurred on 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 transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $885,587.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,813,750 shares of company stock valued at $91,393,788. Insiders own 29.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ORCL. Acrospire Investment Management LLC grew its position in shares of Oracle Corporation by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors grew its position in shares of Oracle Corporation by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of Oracle Corporation by 1,150.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock worth $112,000 after acquiring an additional 2,300 shares in the last quarter. TrimTabs Asset Management LLC grew its position in shares of Oracle Corporation by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Baystate Wealth Management LLC grew its position in shares of Oracle Corporation by 9.2% in the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock worth $123,000 after acquiring an additional 206 shares in the last quarter. Institutional investors 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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