Oracle (NYSE:ORCL) Price Target Raised to $400.00 at Wolfe Research

Oracle (NYSE:ORCL) had its target price raised by equities research analysts at Wolfe Research from $300.00 to $400.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the enterprise software provider’s stock. Wolfe Research’s target price suggests a potential upside of 65.51% from the company’s previous close.

ORCL has been the topic of several other research reports. Loop Capital set a $135.00 price target on Oracle in a research report on Tuesday, June 10th. DA Davidson lifted their target price on Oracle from $220.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group lifted their target price on Oracle from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. JMP Securities lifted their target price on Oracle from $240.00 to $315.00 and gave the company a “market outperform” rating in a research note on Friday, July 18th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Oracle in a research note on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.14.

Oracle Price Performance

Shares of NYSE ORCL opened at $241.67 on Wednesday. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $260.87. The firm has a market capitalization of $678.81 billion, a PE ratio of 55.68, a price-to-earnings-growth ratio of 3.56 and a beta of 1.46. The stock’s 50-day simple moving average is $240.23 and its 200-day simple moving average is $187.60.

Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. As a group, equities research analysts forecast that Oracle will post 5 EPS for the current fiscal year.

Insider Activity at Oracle

In other news, Director Naomi O. Seligman sold 3,303 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares of the company’s stock, valued at $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rona Alison Fairhead purchased 480 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was bought at an average cost of $233.87 per share, with a total value of $112,257.60. Following the completion of the acquisition, the director owned 22,110 shares of the company’s stock, valued at approximately $5,170,865.70. The trade was a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 444,183 shares of company stock valued at $86,521,198 in the last 90 days. 42.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oracle

A number of institutional investors have recently made changes to their positions in ORCL. Redmont Wealth Advisors LLC purchased a new stake in Oracle during the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle during the first quarter valued at about $28,000. Winnow Wealth LLC purchased a new stake in Oracle during the second quarter valued at about $28,000. Iron Horse Wealth Management LLC grew its position in Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after acquiring an additional 151 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new stake in Oracle during the fourth quarter valued at about $30,000. 42.44% of the stock is owned by institutional investors and hedge funds.

About Oracle

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.