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 (NYSE:ORCL) last released its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. equities analysts forecast that Oracle will post 2.68 EPS for the current year.
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.
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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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