Guggenheim Forecasts Strong Price Appreciation for Oracle (NYSE:ORCL) Stock

Oracle (NYSE:ORCLGet Free Report) had its price target raised by equities research analysts at Guggenheim from $220.00 to $250.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the enterprise software provider’s stock. Guggenheim’s price target points to a potential upside of 18.69% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Piper Sandler reissued a “neutral” rating and issued a $130.00 price objective on shares of Oracle in a research report on Wednesday, June 11th. JMP Securities set a $240.00 price objective on Oracle and gave the stock a “market outperform” rating in a report on Thursday, June 12th. Morgan Stanley restated a “positive” rating on shares of Oracle in a research note on Monday, June 9th. Royal Bank Of Canada upped their target price on Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 12th. Finally, CIBC reiterated a “buy” rating on shares of Oracle in a research report on Monday, June 9th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.74.

View Our Latest Report on Oracle

Oracle Trading Up 1.2%

Shares of ORCL stock opened at $210.63 on Wednesday. The company has a market cap of $589.13 billion, a P/E ratio of 48.53, a PEG ratio of 3.16 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 stock has a 50 day simple moving average of $158.93 and a two-hundred day simple moving average of $161.36. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.02 and a current ratio of 0.75.

Oracle (NYSE:ORCLGet Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Oracle’s revenue was up 11.3% compared to the same quarter last year. Research analysts forecast that Oracle will post 5 earnings per share for the current year.

Insider Activity

In other news, Director Leon E. Panetta sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the transaction, the director now owns 58,090 shares in the company, valued at $8,785,531.60. This trade represents a 23.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were 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 owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,366 shares of company stock worth $80,183,723 in the last quarter. 42.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new position in Oracle during the first quarter valued at $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle in the first quarter worth $28,000. Iron Horse Wealth Management LLC grew 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 worth $29,000 after acquiring an additional 151 shares during the period. Sunbeam Capital Management LLC bought a new stake in shares of Oracle in the fourth quarter worth $30,000. Finally, Hurley Capital LLC bought a new stake in shares of Oracle in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Oracle (NYSE:ORCL)

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