Oracle Corporation (ORCL) Rating Reiterated by Canaccord Genuity
Oracle Corporation (NYSE:ORCL)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a research report issued on Saturday. They presently have a $57.00 target price on the enterprise software provider’s stock, up from their previous target price of $56.00. Canaccord Genuity’s price target indicates a potential upside of 16.95% from the stock’s current price.
ORCL has been the subject of a number of other research reports. Jefferies Group LLC raised their price target on shares of Oracle Corporation from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group began coverage on shares of Oracle Corporation in a report on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 price target for the company. KeyCorp reissued a “buy” rating and issued a $61.00 price target on shares of Oracle Corporation in a report on Tuesday, July 18th. BidaskClub raised shares of Oracle Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Mitsubishi UFJ Financial Group reissued a “buy” rating and issued a $63.00 price target on shares of Oracle Corporation in a report on Friday. Two 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 stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.44.
Oracle Corporation (NYSE ORCL) opened at 48.74 on Friday. The firm’s 50-day moving average price is $49.96 and its 200-day moving average price is $46.98. The company has a market capitalization of $201.62 billion, a price-to-earnings ratio of 22.05 and a beta of 1.05. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $53.14.
Oracle Corporation (NYSE:ORCL) last issued 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. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 21.05%. Oracle Corporation’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities analysts expect that Oracle Corporation will post $2.94 earnings per share for the current year.
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In other news, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Chizen sold 206,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the sale, the director now directly owns 63,985 shares of the company’s stock, valued at approximately $3,183,253.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,817,500 shares of company stock valued at $91,582,600. 29.00% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Oracle Corporation by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after acquiring an additional 5,270,359 shares during the period. BlackRock Inc. lifted its stake in Oracle Corporation by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after purchasing an additional 4,678,977 shares during the last quarter. State Street Corp lifted its stake in Oracle Corporation by 1.0% in the 1st quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock valued at $5,495,769,000 after purchasing an additional 1,187,802 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Oracle Corporation by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after purchasing an additional 1,521,879 shares during the last quarter. Finally, Harris Associates L P lifted its stake in Oracle Corporation by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. 58.67% of the stock is owned by institutional investors.
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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