Oracle (NYSE:ORCL) Price Target Cut to $57.00

Oracle (NYSE:ORCL) had its target price dropped by investment analysts at Barclays from $59.00 to $57.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the enterprise software provider’s stock. Barclays‘s target price would suggest a potential upside of 1.26% from the company’s previous close.

Several other research analysts have also issued reports on ORCL. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price target (up from $59.00) on shares of Oracle in a research note on Thursday. UBS Group reiterated a “neutral” rating and issued a $54.00 price target on shares of Oracle in a research note on Friday, June 14th. Wedbush restated a “neutral” rating and set a $55.00 price objective (down from $55.92) on shares of Oracle in a research note on Thursday, June 20th. Raymond James raised their price objective on shares of Oracle from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Finally, ValuEngine lowered shares of Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $55.28.

Shares of Oracle stock opened at $56.29 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49. The company has a 50-day moving average of $54.15 and a 200 day moving average of $54.46. The firm has a market cap of $181.94 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.59 and a beta of 1.18. Oracle has a 1 year low of $42.40 and a 1 year high of $60.50.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 12th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. The company had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.29 billion. Oracle had a net margin of 28.06% and a return on equity of 40.95%. Oracle’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. On average, equities analysts anticipate that Oracle will post 3.49 EPS for the current year.

In other news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $56.92, for a total transaction of $5,692,000.00. Following the sale, the executive vice president now owns 177,919 shares of the company’s stock, valued at approximately $10,127,149.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the sale, the chief accounting officer now directly owns 85,348 shares in the company, valued at approximately $4,800,825. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,140,000 shares of company stock worth $117,501,425. Insiders own 32.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ORCL. Saturna Capital increased its position in Oracle by 0.9% in the third quarter. Saturna Capital now owns 692,896 shares of the enterprise software provider’s stock worth $25,027,000 after purchasing an additional 6,325 shares during the last quarter. International Value Advisers increased its position in Oracle by 2.0% in the third quarter. International Value Advisers now owns 7,118,841 shares of the enterprise software provider’s stock worth $257,133,000 after purchasing an additional 139,672 shares during the last quarter. Perigon Wealth Management increased its position in Oracle by 9.9% in the third quarter. Perigon Wealth Management now owns 9,987 shares of the enterprise software provider’s stock worth $361,000 after purchasing an additional 899 shares during the last quarter. Loge Solutions bought a new stake in Oracle in the third quarter worth $2,173,000. Finally, ING Groep increased its position in Oracle by 11.4% in the third quarter. ING Groep now owns 309,847 shares of the enterprise software provider’s stock worth $11,189,000 after purchasing an additional 31,670 shares during the last quarter. 53.05% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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