Oracle Corporation (ORCL) Downgraded by Zacks Investment Research
Oracle Corporation (NYSE:ORCL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Oracle's first-quarter fiscal 2018 results were impressive. The company is benefiting from significant momentum in the SaaS offerings. The company stated that it is wining market share against salesforce.com and Workday. We believe the company’s growing cloud market share will continue to drive top-line growth in the foreseeable future. Moreover, the upcoming launch of the next-generation autonomous database, which is supported by machine learning, is a key catalyst. The stock has outperformed the industry on a year-to-date basis driven by these factors. However, soft outlook for the second quarter reflects slowing cloud momentum, particualrly due to increasing competition from Microsoft Azure and Amazon Web Services. Moreover, higher investments on PaaS and IaaS will keep margins under pressure in the near term.”
Several other equities analysts have also recently issued reports on ORCL. Jefferies Group LLC restated a “buy” rating and set a $52.00 price objective on shares of Oracle Corporation in a research note on Friday, May 19th. Canaccord Genuity restated a “buy” rating and set a $49.00 price objective on shares of Oracle Corporation in a research note on Friday, May 26th. OTR Global upgraded Oracle Corporation to a “positive” rating in a research note on Thursday, June 8th. Goldman Sachs Group, Inc. (The) set a $49.00 price objective on Oracle Corporation and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, Wedbush reduced their price objective on Oracle Corporation from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $52.26.
Shares of Oracle Corporation (NYSE:ORCL) opened at 49.81 on Friday. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $53.14. The stock’s 50 day moving average is $50.01 and its 200 day moving average is $46.93. The stock has a market cap of $206.05 billion, a P/E ratio of 22.54 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same quarter last year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total transaction of $183,225.00. Following the sale, the director now directly owns 18,125 shares in the company, valued at $885,587.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Boskin sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $50.69, for a total value of $7,603,500.00. Following the sale, the director now owns 99,454 shares in the company, valued at $5,041,323.26. The disclosure for this sale can be found here. Over the last ninety 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 institutional investors and hedge funds have recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. increased its position in shares of Oracle Corporation by 1.0% during the second quarter. Burgundy Asset Management Ltd. now owns 6,086,871 shares of the enterprise software provider’s stock valued at $305,196,000 after purchasing an additional 60,828 shares during the period. Intl Fcstone Inc. bought a new stake in shares of Oracle Corporation during the second quarter valued at approximately $274,000. Lord Abbett & CO. LLC increased its position in shares of Oracle Corporation by 26.8% during 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 purchasing an additional 456,231 shares during the period. Farmers National Bank increased its position in shares of Oracle Corporation by 8.9% during the second quarter. Farmers National Bank now owns 4,640 shares of the enterprise software provider’s stock valued at $233,000 after purchasing an additional 380 shares during the period. Finally, RNC Capital Management LLC increased its position in shares of Oracle Corporation by 2.7% during 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 purchasing an additional 3,708 shares during the period. 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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