Oracle (NYSE:ORCL) Price Target Raised to $89.00

Oracle (NYSE:ORCL) had its target price increased by stock analysts at Citigroup from $80.00 to $89.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the enterprise software provider’s stock. Citigroup’s target price would indicate a potential upside of 3.02% from the stock’s current price.

Several other equities analysts have also issued reports on ORCL. DZ Bank lowered Oracle from a “hold” rating to a “sell” rating and set a $82.00 price objective for the company. in a report on Tuesday, August 10th. Monness Crespi & Hardt increased their price objective on Oracle to $115.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group reissued a “hold” rating and set a $95.00 price objective on shares of Oracle in a report on Tuesday. Stifel Nicolaus increased their price objective on Oracle from $62.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, June 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Oracle in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $80.38.

ORCL stock opened at $86.39 on Wednesday. The firm has a market cap of $241.20 billion, a PE ratio of 18.90, a P/E/G ratio of 2.53 and a beta of 0.80. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 12.77. The business has a 50 day moving average of $88.73 and a 200-day moving average of $80.39. Oracle has a 12-month low of $55.14 and a 12-month high of $91.78.

Oracle (NYSE:ORCL) last released its earnings results on Sunday, September 12th. The enterprise software provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $9.73 billion during the quarter, compared to analyst estimates of $9.77 billion. Oracle had a return on equity of 146.83% and a net margin of 33.96%. Oracle’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. On average, research analysts expect that Oracle will post 4.17 earnings per share for the current year.

In related news, Director Naomi O. Seligman sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $87.88, for a total value of $3,075,800.00. Following the completion of the transaction, the director now directly owns 71,724 shares in the company, valued at approximately $6,303,105.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dorian Daley sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, June 18th. The stock was sold at an average price of $76.38, for a total transaction of $9,547,500.00. Following the completion of the transaction, the executive vice president now owns 125,000 shares of the company’s stock, valued at $9,547,500. The disclosure for this sale can be found here. Insiders sold 385,000 shares of company stock valued at $30,231,050 over the last 90 days. 39.10% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Auxano Advisors LLC raised its position in Oracle by 1.7% during the second quarter. Auxano Advisors LLC now owns 6,859 shares of the enterprise software provider’s stock valued at $534,000 after purchasing an additional 114 shares during the period. Bingham Osborn & Scarborough LLC grew its stake in Oracle by 1.7% in the second quarter. Bingham Osborn & Scarborough LLC now owns 7,099 shares of the enterprise software provider’s stock worth $553,000 after purchasing an additional 116 shares in the last quarter. Clarkston Capital Partners LLC grew its stake in Oracle by 1.9% in the second quarter. Clarkston Capital Partners LLC now owns 6,259 shares of the enterprise software provider’s stock worth $487,000 after purchasing an additional 116 shares in the last quarter. Main Street Financial Solutions LLC boosted its position in Oracle by 3.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,427 shares of the enterprise software provider’s stock valued at $267,000 after acquiring an additional 121 shares in the last quarter. Finally, Claro Advisors LLC boosted its position in Oracle by 2.5% during the 2nd quarter. Claro Advisors LLC now owns 5,024 shares of the enterprise software provider’s stock valued at $391,000 after acquiring an additional 124 shares in the last quarter. 44.47% of the stock is owned by institutional investors and hedge funds.

About Oracle

Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.

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