JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Oracle (NYSE:ORCL) Stock

Oracle (NYSE:ORCL) had its price target lifted by JPMorgan Chase & Co. from $135.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the enterprise software provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 14.17% from the company’s current price.

ORCL has been the subject of a number of other research reports. DA Davidson dropped their target price on shares of Oracle from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upped their price target on Oracle from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. CIBC reiterated a “buy” rating on shares of Oracle in a research note on Monday. Piper Sandler reiterated a “neutral” rating and set a $130.00 target price on shares of Oracle in a research note on Wednesday. Finally, Westpark Capital raised their price objective on Oracle from $195.00 to $246.00 and gave the stock a “buy” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.32.

Oracle Stock Up 7.8%

Shares of NYSE:ORCL opened at $215.54 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market cap of $602.86 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 3.46 and a beta of 1.32. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $216.60. The firm’s 50-day simple moving average is $152.88 and its 200-day simple moving average is $160.62.

Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the firm earned $1.63 EPS. The business’s revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts predict that Oracle will post 5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Leon E. Panetta sold 5,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $129.77, for a total value of $648,850.00. Following the completion of the transaction, the director now owns 58,090 shares of the company’s stock, valued at approximately $7,538,339.30. This represents a 7.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider now directly owns 1,097,576 shares of the company’s stock, valued at $209,000,421.92. This represents a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,366 shares of company stock worth $80,183,723 in the last ninety days. 42.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oracle

Large investors have recently made changes to their positions in the business. Sunbeam Capital Management LLC purchased a new position in shares of Oracle in the fourth quarter valued at about $30,000. Hurley Capital LLC bought a new stake in Oracle during the fourth quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the first quarter valued at approximately $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle during the first quarter valued at approximately $28,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after purchasing an additional 151 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.