Oracle Corporation (ORCL) Given New $59.00 Price Target at Barclays PLC
Oracle Corporation (NYSE:ORCL) had its target price raised by stock analysts at Barclays PLC from $55.00 to $59.00 in a research report issued to clients and investors on Friday. The firm presently has an “overweight” rating on the enterprise software provider’s stock. Barclays PLC’s target price suggests a potential upside of 11.62% from the company’s current price.
A number of other equities research analysts have also recently weighed in on ORCL. Jefferies Group LLC restated a “buy” rating and issued a $52.00 price target on shares of Oracle Corporation in a research note on Friday, May 19th. Zacks Investment Research cut Oracle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Canaccord Genuity restated a “buy” rating and issued a $49.00 price target 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. 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 note on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.39.
Shares of Oracle Corporation (ORCL) traded down 7.549% during midday trading on Friday, hitting $48.805. 40,460,183 shares of the stock traded hands. The company has a market capitalization of $201.89 billion, a PE ratio of 22.084 and a beta of 1.05. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $53.14. The firm’s 50 day moving average price is $50.01 and its 200 day moving average price is $46.93.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that Oracle Corporation will post $2.94 EPS for the current year.
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In other Oracle Corporation 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 sale, the executive vice president now directly owns 177,988 shares in the company, valued at $9,146,803.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Kurian sold 750,000 shares of Oracle Corporation stock in a transaction that occurred on Tuesday, July 18th. The stock was 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 $39,537,075.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,813,750 shares of company stock valued at $91,393,788. 29.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ORCL. Barometer Capital Management Inc. acquired a new stake in Oracle Corporation in the first quarter valued at approximately $10,568,000. Nisa Investment Advisors LLC grew its stake in Oracle Corporation by 4.3% in the first quarter. Nisa Investment Advisors LLC now owns 1,134,253 shares of the enterprise software provider’s stock valued at $50,596,000 after acquiring an additional 46,840 shares during the period. Quantitative Systematic Strategies LLC grew its stake in Oracle Corporation by 213.2% in the first quarter. Quantitative Systematic Strategies LLC now owns 54,353 shares of the enterprise software provider’s stock valued at $2,425,000 after acquiring an additional 37,001 shares during the period. Granite Investment Advisors LLC grew its stake in Oracle Corporation by 13.4% in the first quarter. Granite Investment Advisors LLC now owns 211,323 shares of the enterprise software provider’s stock valued at $9,427,000 after acquiring an additional 24,999 shares during the period. Finally, Quotient Investors LLC grew its stake in Oracle Corporation by 263.2% in the first quarter. Quotient Investors LLC now owns 41,811 shares of the enterprise software provider’s stock valued at $1,865,000 after acquiring an additional 30,300 shares during the period. Institutional investors and hedge funds own 58.67% of the company’s stock.
About Oracle Corporation
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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