Oracle (ORCL) PT Set at $58.00 by Goldman Sachs Group
Oracle (NYSE:ORCL) has been given a $58.00 target price by stock analysts at Goldman Sachs Group in a research note issued on Friday. The brokerage presently has a “buy” rating on the enterprise software provider’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 15.56% from the company’s current price.
Other equities analysts have also recently issued reports about the company. UBS set a $55.00 target price on Oracle and gave the company a “neutral” rating in a research note on Friday. Jefferies Group set a $61.00 price target on Oracle and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada lowered Oracle from an “outperform” rating to a “sector perform” rating in a research report on Friday. BMO Capital Markets dropped their price target on Oracle from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Canaccord Genuity dropped their price target on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday. Fourteen analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.02.
Oracle (ORCL) traded up $0.14 during trading on Friday, hitting $50.19. The stock had a trading volume of 22,259,200 shares, compared to its average volume of 13,348,773. The stock has a market cap of $208,882.97, a PE ratio of 19.63, a P/E/G ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.61 and a current ratio of 3.63. Oracle has a 12 month low of $38.30 and a 12 month high of $53.14.
Oracle announced that its board has authorized a share buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Dorian Daley sold 76,703 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total transaction of $3,758,447.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Berg sold 45,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 302,026 shares of company stock valued at $14,633,187 over the last ninety days. Company insiders own 29.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC grew its holdings in Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares during the last quarter. Burt Wealth Advisors grew its holdings in Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Oracle by 81,200.0% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after buying an additional 2,436 shares during the last quarter. TrimTabs Asset Management LLC grew its holdings in Oracle by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Oracle in the 2nd quarter valued at approximately $129,000. 57.70% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/oracle-orcl-pt-set-at-58-00-by-goldman-sachs-group/1765910.html.
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.
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.