Oracle (NYSE:ORCL) Price Target Raised to $170.00 at DA Davidson

Oracle (NYSE:ORCL) had its price target boosted by investment analysts at DA Davidson from $140.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the enterprise software provider’s stock. DA Davidson’s price target would indicate a potential downside of 21.13% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ORCL. Citigroup boosted their target price on Oracle from $160.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective on shares of Oracle from $135.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. CIBC reaffirmed a “buy” rating on shares of Oracle in a research report on Monday. Guggenheim reiterated a “buy” rating and set a $220.00 price target on shares of Oracle in a research note on Thursday, June 5th. Finally, Barclays decreased their price objective on shares of Oracle from $212.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Twelve analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.32.

Oracle Trading Up 7.8%

NYSE ORCL opened at $215.54 on Thursday. Oracle has a 52 week low of $118.86 and a 52 week high of $216.60. The firm has a 50 day moving average of $152.88 and a two-hundred day moving average of $160.62. The stock has a market capitalization of $602.86 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65.

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

Insiders Place Their Bets

In other news, Director Naomi O. Seligman sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total transaction of $291,620.00. Following the sale, the director now owns 34,630 shares of the company’s stock, valued at $5,049,400.30. The trade was a 5.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s 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 sale, the insider now directly owns 1,097,576 shares in the company, valued at $209,000,421.92. This trade represents a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,366 shares of company stock worth $80,183,723. Company insiders own 42.20% of the company’s stock.

Institutional Investors Weigh In On Oracle

Several institutional investors have recently modified their holdings of ORCL. Norges Bank purchased a new stake in shares of Oracle during the 4th quarter worth approximately $2,216,314,000. Raymond James Financial Inc. purchased a new stake in shares of Oracle during the 4th quarter worth approximately $930,095,000. Nuveen LLC purchased a new stake in shares of Oracle during the 1st quarter worth approximately $732,692,000. GAMMA Investing LLC boosted its stake in shares of Oracle by 15,012.3% during the 1st quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider’s stock worth $664,810,000 after acquiring an additional 4,723,631 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Oracle by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider’s stock worth $22,498,982,000 after acquiring an additional 3,513,464 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

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.