Canaccord Genuity Lowers Oracle (ORCL) Price Target to $53.00

Oracle (NYSE:ORCL) had its price objective lowered by research analysts at Canaccord Genuity from $57.00 to $53.00 in a report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the enterprise software provider’s stock. Canaccord Genuity’s price target points to a potential upside of 5.60% from the stock’s current price.

A number of other brokerages have also weighed in on ORCL. Vetr lowered shares of Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 price target for the company. in a research note on Tuesday, September 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Monday, September 11th. BTIG Research reaffirmed a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Tuesday, September 19th. J P Morgan Chase & Co set a $55.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday. Finally, Moffett Nathanson started coverage on shares of Oracle in a research note on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price target for the company. Fourteen research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $54.97.

Oracle (NYSE:ORCL) opened at $50.19 on Friday. Oracle has a 1 year low of $38.30 and a 1 year high of $53.14. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. The company has a market cap of $208,882.97, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.34% and a return on equity of 20.55%. The firm had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Oracle’s quarterly revenue was up 6.2% on a year-over-year basis. sell-side analysts forecast that Oracle will post 2.68 earnings per share for the current year.

In other news, Director George H. Conrades sold 56,250 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $48.25, for a total transaction of $2,714,062.50. Following the transaction, the director now owns 66,250 shares in the company, valued at approximately $3,196,562.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 25,776 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the transaction, the executive vice president now owns 30,977 shares in the company, valued at approximately $1,488,444.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,026 shares of company stock worth $14,633,187. Company insiders own 29.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Oracle 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 purchasing an additional 5,270,359 shares in the last quarter. BlackRock Inc. increased its position in Oracle 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 acquiring an additional 4,678,977 shares in the last quarter. State Street Corp increased its position in Oracle 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 acquiring an additional 1,187,802 shares in the last quarter. Bank of New York Mellon Corp increased its position in Oracle 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 acquiring an additional 1,521,879 shares in the last quarter. Finally, Harris Associates L P increased its position in Oracle by 1.1% in the 4th quarter. Harris Associates L P now owns 50,266,631 shares of the enterprise software provider’s stock valued at $1,836,240,000 after acquiring an additional 523,600 shares in the last quarter. 57.70% of the stock is owned by institutional investors and hedge funds.

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About Oracle

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.