Goldman Sachs Group Reiterates “Buy” Rating for Oracle (NYSE:ORCL)

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Oracle (NYSE:ORCL)‘s stock had its “buy” rating reaffirmed by Goldman Sachs Group in a note issued to investors on Monday, Borsen Zeitung reports. They presently have a $62.00 price objective on the enterprise software provider’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 12.10% from the stock’s current price.

ORCL has been the subject of several other reports. Argus reaffirmed a “buy” rating on shares of Oracle in a research report on Friday, September 13th. BMO Capital Markets lifted their price objective on shares of Oracle from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Friday, September 27th. They noted that the move was a valuation call. Credit Suisse Group set a $62.00 price objective on Oracle and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Macquarie reissued a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. set a $56.00 price target on Oracle and gave the company a “neutral” rating in a research report on Thursday, September 12th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company. Oracle currently has an average rating of “Hold” and an average price target of $56.76.

Shares of ORCL opened at $55.31 on Monday. Oracle has a 1-year low of $42.40 and a 1-year high of $60.50. The stock has a market cap of $179.98 billion, a PE ratio of 17.50, a P/E/G ratio of 1.63 and a beta of 1.14. The firm has a 50-day simple moving average of $55.53 and a two-hundred day simple moving average of $55.01. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. The firm had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS. As a group, sell-side analysts expect that Oracle will post 3.45 earnings per share for the current fiscal year.

Oracle declared that its board has approved a share buyback plan on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Oracle news, EVP Dorian Daley sold 50,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.01, for a total value of $2,750,500.00. Following the completion of the transaction, the executive vice president now owns 50,000 shares in the company, valued at $2,750,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 4,643 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $53.14, for a total value of $246,729.02. Following the completion of the sale, the director now directly owns 38,562 shares of the company’s stock, valued at $2,049,184.68. The disclosure for this sale can be found here. Insiders have sold a total of 76,479 shares of company stock worth $4,223,049 over the last quarter. 36.60% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ORCL. Nuveen Asset Management LLC boosted its stake in Oracle by 6,437.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 10,144,910 shares of the enterprise software provider’s stock worth $577,955,000 after purchasing an additional 9,989,718 shares during the period. Longview Partners Guernsey LTD grew its holdings in shares of Oracle by 16.9% during the second quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after buying an additional 3,220,296 shares during the last quarter. Renaissance Technologies LLC increased its position in Oracle by 2,952.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,970,032 shares of the enterprise software provider’s stock valued at $169,203,000 after acquiring an additional 2,872,732 shares during the period. LSV Asset Management increased its position in Oracle by 37.8% in the 2nd quarter. LSV Asset Management now owns 8,335,383 shares of the enterprise software provider’s stock valued at $474,866,000 after acquiring an additional 2,286,600 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its stake in shares of Oracle by 62.5% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 5,578,093 shares of the enterprise software provider’s stock valued at $231,296,000 after purchasing an additional 2,146,084 shares during the last quarter. Institutional investors and hedge funds own 51.09% of the company’s stock.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Analyst Recommendations for Oracle (NYSE:ORCL)

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