Oracle Corporation (NYSE:ORCL) has been assigned a $56.00 target price by equities researchers at Goldman Sachs Group, Inc. (The) in a report issued on Friday, October 6th. The firm currently has a “buy” rating on the enterprise software provider’s stock. Goldman Sachs Group, Inc. (The)’s price target would indicate a potential upside of 14.61% from the company’s previous close.
A number of other research analysts also recently commented on ORCL. OTR Global raised Oracle Corporation to a “positive” rating in a report on Thursday, June 8th. Wedbush cut their price objective on Oracle Corporation from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 13th. Sanford C. Bernstein restated an “outperform” rating and set a $54.00 price objective on shares of Oracle Corporation in a research note on Tuesday, June 13th. BidaskClub cut Oracle Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price target on shares of Oracle Corporation in a research report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.37.
Shares of Oracle Corporation (NYSE:ORCL) opened at 48.86 on Friday. The firm has a 50-day moving average price of $49.43 and a 200-day moving average price of $47.69. Oracle Corporation has a 52-week low of $37.64 and a 52-week high of $53.14. The firm has a market cap of $203.90 billion, a price-to-earnings ratio of 21.25 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. Oracle Corporation’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. Analysts predict that Oracle Corporation will post $2.94 EPS for the current fiscal year.
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In other news, EVP Dorian Daley sold 23,297 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.00, for a total transaction of $1,141,553.00. Following the completion of the transaction, the executive vice president now directly owns 54,274 shares in the company, valued at approximately $2,659,426. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $48.86, for a total value of $183,225.00. Following the transaction, the director now owns 18,125 shares of the company’s stock, valued at $885,587.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,026 shares of company stock worth $14,639,487. 29.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its position in Oracle Corporation 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 purchasing an additional 1,800 shares in the last quarter. Burt Wealth Advisors raised its position in Oracle Corporation 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 purchasing an additional 88 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Oracle Corporation by 1,150.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after purchasing an additional 2,300 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of Oracle Corporation by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Baystate Wealth Management LLC raised its position in shares of Oracle Corporation by 9.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock worth $123,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 57.83% of the company’s stock.
About Oracle Corporation
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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