Piper Sandler Increases Oracle (NYSE:ORCL) Price Target to $150.00

Oracle (NYSE:ORCLGet Free Report) had its price target raised by investment analysts at Piper Sandler from $140.00 to $150.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the enterprise software provider’s stock. Piper Sandler’s price objective points to a potential upside of 7.34% from the stock’s current price.

ORCL has been the topic of a number of other research reports. TD Cowen boosted their target price on Oracle from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup cut their price objective on Oracle from $133.00 to $128.00 and set a “neutral” rating on the stock in a research report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Oracle in a research report on Tuesday. KeyCorp boosted their price target on shares of Oracle from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America raised their price objective on shares of Oracle from $144.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.50.

Read Our Latest Research Report on Oracle

Oracle Stock Down 0.5 %

Shares of NYSE:ORCL opened at $139.74 on Wednesday. The business’s 50 day moving average is $120.78 and its 200 day moving average is $115.98. Oracle has a 12-month low of $99.26 and a 12-month high of $142.40. The stock has a market cap of $384.08 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.58 and a beta of 1.01. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 13.34.

Oracle (NYSE:ORCLGet Free Report) last posted its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a return on equity of 336.11% and a net margin of 20.27%. The firm had revenue of $14.29 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company earned $1.35 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Oracle will post 4.44 earnings per share for the current fiscal year.

Insider Transactions at Oracle

In related news, Director Michael J. Boskin sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the completion of the transaction, the director now directly owns 87,473 shares in the company, valued at $10,299,071.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director George H. Conrades sold 20,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the sale, the director now owns 17,836 shares in the company, valued at approximately $2,068,976. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Boskin sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the completion of the transaction, the director now owns 87,473 shares of the company’s stock, valued at $10,299,071.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 880,000 shares of company stock valued at $110,488,150. 42.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oracle

A number of hedge funds and other institutional investors have recently modified their holdings of the company. One Capital Management LLC raised its stake in shares of Oracle by 2.9% during the third quarter. One Capital Management LLC now owns 4,207 shares of the enterprise software provider’s stock worth $446,000 after acquiring an additional 118 shares in the last quarter. Navellier & Associates Inc. bought a new stake in Oracle in the third quarter worth $271,000. Manchester Capital Management LLC grew its stake in shares of Oracle by 2.5% during the third quarter. Manchester Capital Management LLC now owns 35,259 shares of the enterprise software provider’s stock valued at $3,735,000 after buying an additional 865 shares during the last quarter. Truepoint Inc. purchased a new position in shares of Oracle in the third quarter worth about $320,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Oracle by 1,928.7% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 5,863 shares of the enterprise software provider’s stock valued at $621,000 after acquiring an additional 5,574 shares during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

About Oracle

(Get Free Report)

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

Featured Stories

Analyst Recommendations for Oracle (NYSE:ORCL)

Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.