Oracle Corporation (ORCL) Stock Rating Reaffirmed by Wedbush
Oracle Corporation (NYSE:ORCL)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued on Friday. They presently have a $58.00 target price on the enterprise software provider’s stock. Wedbush’s price target would indicate a potential upside of 9.72% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and set a $52.00 price objective on shares of Oracle Corporation in a research report on Friday, May 19th. Canaccord Genuity downgraded shares of Oracle Corporation to a “buy” rating and raised their price objective for the stock from $49.00 to $56.00 in a research report on Thursday, June 22nd. UBS AG reissued a “buy” rating and set a $52.00 price objective (up from $48.00) on shares of Oracle Corporation in a research report on Thursday, June 22nd. They noted that the move was a valuation call. Rosenblatt Securities reissued a “buy” rating and set a $55.00 price objective on shares of Oracle Corporation in a research report on Wednesday, June 21st. Finally, Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have issued a buy rating to the stock. Oracle Corporation presently has a consensus rating of “Buy” and a consensus price target of $52.13.
Oracle Corporation (NYSE:ORCL) opened at 52.86 on Friday. The firm has a market capitalization of $218.67 billion, a P/E ratio of 23.92 and a beta of 1.05. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14. The company’s 50-day moving average is $50.01 and its 200-day moving average is $46.93.
Oracle Corporation (NYSE:ORCL) last issued 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. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. During the same period last year, the firm posted $0.55 EPS. Oracle Corporation’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Oracle Corporation will post $2.94 EPS for the current year.
In other news, insider Thomas Kurian sold 750,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the transaction, the insider now directly owns 783,533 shares of the company’s stock, valued at $39,537,075.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Boskin sold 150,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $50.69, for a total transaction of $7,603,500.00. Following the transaction, the director now directly 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 quarter, insiders have sold 1,813,750 shares of company stock valued at $91,393,788. 29.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Oracle Corporation during the third quarter worth $2,544,000. Boston Partners lifted its position in shares of Oracle Corporation by 20.1% during the first quarter. Boston Partners now owns 18,234,179 shares of the enterprise software provider’s stock worth $813,427,000 after purchasing an additional 3,054,765 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Oracle Corporation by 5,147.0% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,122,744 shares of the enterprise software provider’s stock worth $45,953,000 after purchasing an additional 1,101,346 shares in the last quarter. First Quadrant L P CA lifted its position in shares of Oracle Corporation by 87.2% during the third quarter. First Quadrant L P CA now owns 877,305 shares of the enterprise software provider’s stock worth $34,461,000 after purchasing an additional 408,705 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in shares of Oracle Corporation by 0.4% during the fourth quarter. Wetherby Asset Management Inc. now owns 67,301 shares of the enterprise software provider’s stock worth $2,587,000 after purchasing an additional 248 shares in the last quarter. 58.67% of the stock is currently owned by institutional investors and hedge funds.
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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