Oracle Corporation (NYSE:ORCL) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, October 18th.
Other research analysts have also issued research reports about the company. Rosenblatt Securities reissued a “buy” rating and issued a $55.00 target price on shares of Oracle Corporation in a research report on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and issued a $52.00 price target on shares of Oracle Corporation in a research note on Tuesday, June 20th. Bank of America Corporation restated a “buy” rating and issued a $62.00 price target (up previously from $54.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. Canaccord Genuity downgraded Oracle Corporation to a “buy” rating and upped their price target for the stock from $49.00 to $56.00 in a research note on Thursday, June 22nd. Finally, UBS AG restated a “buy” rating and issued a $52.00 price target (up previously from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.50.
Shares of Oracle Corporation (NYSE ORCL) opened at 50.15 on Wednesday. The firm has a market cap of $209.28 billion, a PE ratio of 21.81 and a beta of 1.05. Oracle Corporation has a 52 week low of $37.64 and a 52 week high of $53.14. The firm has a 50-day moving average price of $49.32 and a 200-day moving average price of $47.95.
Oracle Corporation (NYSE:ORCL) last announced its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that Oracle Corporation will post $2.94 earnings per share for the current year.
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In other news, Director George H. Conrades sold 56,250 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $48.25, for a total value of $2,714,062.50. Following the completion of the sale, the director now directly owns 66,250 shares of the company’s stock, valued at $3,196,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dorian Daley sold 76,703 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total transaction of $3,758,447.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 305,776 shares of company stock worth $14,822,112. Corporate insiders own 29.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Waldron LP boosted its stake in Oracle Corporation by 344.1% during the first quarter. Waldron LP now owns 34,947 shares of the enterprise software provider’s stock worth $1,558,000 after buying an additional 27,077 shares in the last quarter. Hudock Capital Group LLC lifted its holdings in shares of Oracle Corporation by 0.3% during the first quarter. Hudock Capital Group LLC now owns 3,997 shares of the enterprise software provider’s stock valued at $178,000 after acquiring an additional 10 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of Oracle Corporation by 4.9% in the first quarter. Cornerstone Advisors Inc. now owns 15,858 shares of the enterprise software provider’s stock valued at $707,000 after buying an additional 734 shares during the last quarter. iAB Financial Bank raised its holdings in shares of Oracle Corporation by 4.5% in the first quarter. iAB Financial Bank now owns 23,193 shares of the enterprise software provider’s stock valued at $1,035,000 after buying an additional 991 shares during the last quarter. Finally, First Merchants Corp raised its holdings in shares of Oracle Corporation by 1.3% in the first quarter. First Merchants Corp now owns 78,430 shares of the enterprise software provider’s stock valued at $3,498,000 after buying an additional 985 shares during the last quarter. Institutional investors and hedge funds own 57.94% 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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