J P Morgan Chase & Co Analysts Give Oracle (ORCL) a $55.00 Price Target
Oracle (NYSE:ORCL) has been assigned a $55.00 target price by equities research analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the enterprise software provider’s stock. J P Morgan Chase & Co’s price objective points to a potential upside of 8.98% from the stock’s previous close.
Several other research analysts have also commented on ORCL. Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Royal Bank of Canada reissued a “buy” rating and issued a $53.00 price target on shares of Oracle in a research report on Sunday, August 27th. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $46.58 price target for the company. in a research report on Sunday, September 3rd. Finally, Credit Suisse Group started coverage on Oracle in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Oracle currently has a consensus rating of “Buy” and a consensus target price of $55.05.
Shares of Oracle (ORCL) opened at $50.47 on Tuesday. Oracle has a one year low of $38.30 and a one year high of $53.14. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $207,004.89, a P/E ratio of 19.45, a P/E/G ratio of 1.89 and a beta of 1.05.
In related news, EVP Dorian Daley sold 25,776 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.05, for a total value of $1,238,536.80. Following the completion of the transaction, the executive vice president now directly owns 30,977 shares in the company, valued at $1,488,444.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. Insiders sold a total of 305,776 shares of company stock valued at $14,821,999 in the last ninety days. 29.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ORCL. Norges Bank purchased a new stake in Oracle in the 4th quarter valued at approximately $1,067,769,000. Macquarie Group Ltd. boosted its holdings in Oracle by 6,353.4% in the 1st quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after purchasing an additional 18,351,920 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Oracle in the 2nd quarter valued at approximately $540,085,000. Russell Investments Group Ltd. purchased a new stake in Oracle in the 4th quarter valued at approximately $473,593,000. Finally, BT Investment Management Ltd purchased a new stake in Oracle in the 2nd quarter valued at approximately $459,738,000. Institutional investors and hedge funds own 57.70% of the company’s stock.
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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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