Oracle (NYSE:ORCL)‘s stock had its “neutral” rating restated by investment analysts at JPMorgan Chase & Co. in a research report issued on Friday, Borsen Zeitung reports. They presently have a $56.00 target price on the enterprise software provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 1.86% from the company’s current price.
A number of other equities analysts also recently issued reports on ORCL. Argus reaffirmed a “buy” rating on shares of Oracle in a report on Friday, September 13th. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. Cowen began coverage on shares of Oracle in a report on Friday, August 16th. They set a “buy” rating and a $65.00 price objective on the stock. Sanford C. Bernstein set a $66.00 price objective on shares of Oracle and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Barclays reaffirmed a “neutral” rating and set a $61.00 price objective on shares of Oracle in a report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Oracle presently has a consensus rating of “Hold” and an average target price of $56.58.
NYSE ORCL opened at $54.98 on Friday. The company has a fifty day simple moving average of $55.62 and a 200 day simple moving average of $55.05. Oracle has a 12-month low of $42.40 and a 12-month high of $60.50. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67. The company has a market cap of $184.84 billion, a P/E ratio of 17.40, a PEG ratio of 1.67 and a beta of 1.14.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 12th. The enterprise software provider reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.65 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 down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. Sell-side analysts predict that Oracle will post 3.45 EPS for the current year.
Oracle declared that its Board of Directors has authorized a share buyback program 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 programs are often a sign that the company’s board believes its shares are undervalued.
In other news, Director Hector Garcia-Molina sold 4,643 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.42, for a total transaction of $261,958.06. Following the completion of the transaction, the director now owns 38,562 shares of the company’s stock, valued at $2,175,668.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Renee Jo James sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.56, for a total value of $160,680.00. Following the transaction, the director now directly owns 32,886 shares of the company’s stock, valued at approximately $1,761,374.16. The disclosure for this sale can be found here. Insiders sold a total of 76,479 shares of company stock worth $4,223,049 over the last 90 days. 36.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. 1 North Wealth Services LLC purchased a new stake in Oracle in the third quarter worth approximately $28,000. Winthrop Partners WNY LLC purchased a new stake in Oracle in the third quarter worth approximately $30,000. C J Advisory Inc purchased a new stake in Oracle in the third quarter worth approximately $31,000. Next Capital Management LLC purchased a new stake in Oracle in the second quarter worth approximately $36,000. Finally, Shamrock Asset Management LLC boosted its stake in Oracle by 577.0% in the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock worth $39,000 after buying an additional 577 shares in the last quarter. 51.09% of the stock is owned by institutional investors and hedge funds.
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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