Jefferies Group Reiterates “$61.00” Price Target for Oracle (ORCL)
Oracle (NYSE:ORCL) has been given a $61.00 target price by Jefferies Group in a report issued on Friday. The brokerage presently has a “buy” rating on the enterprise software provider’s stock. Jefferies Group’s target price would suggest a potential upside of 21.54% from the company’s current price.
Several other equities analysts have also recently weighed in on ORCL. UBS set a $55.00 price objective on Oracle and gave the company a “neutral” rating in a research note on Friday. Drexel Hamilton reiterated a “buy” rating and set a $62.00 target price on shares of Oracle in a research note on Tuesday. Royal Bank of Canada lifted their target price on Oracle to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $52.33 target price for the company. in a report on Monday. Fourteen analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.14.
Shares of Oracle (NYSE:ORCL) opened at $50.19 on Friday. The company has a market cap of $208,882.97, a P/E ratio of 19.63, a PEG ratio of 1.90 and a beta of 1.05. Oracle has a 52-week low of $38.30 and a 52-week high of $53.14. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 0.86.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.34% and a return on equity of 20.55%. The company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. research analysts expect that Oracle will post 2.68 earnings per share for the current year.
In other Oracle news, Director Jeffrey Berg sold 45,000 shares of Oracle stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dorian Daley sold 25,776 shares of Oracle stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $48.05, for a total value of $1,238,536.80. Following the completion of the sale, the executive vice president now directly owns 30,977 shares in the company, valued at approximately $1,488,444.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 302,026 shares of company stock worth $14,633,187. 29.00% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its position in Oracle by 9.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 9,891,713 shares of the enterprise software provider’s stock worth $478,264,000 after purchasing an additional 831,547 shares during the period. Vista Private Wealth Partners. LLC acquired a new position in Oracle in the 3rd quarter worth $690,000. AXA raised its stake in shares of Oracle by 44.2% in the 3rd quarter. AXA now owns 2,783,375 shares of the enterprise software provider’s stock valued at $134,577,000 after purchasing an additional 853,718 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Oracle by 0.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 6,105,017 shares of the enterprise software provider’s stock valued at $295,178,000 after purchasing an additional 18,146 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Oracle by 64.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,443 shares of the enterprise software provider’s stock valued at $457,000 after purchasing an additional 3,705 shares in the last quarter. Hedge funds and other institutional investors own 57.70% of the company’s stock.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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