Oracle (NYSE:ORCL) Price Target Raised to $330.00

Oracle (NYSE:ORCL) had its price target raised by research analysts at Piper Sandler from $270.00 to $330.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm currently has an “overweight” rating on the enterprise software provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 7.27% from the stock’s previous close.

ORCL has been the topic of several other reports. JMP Securities upped their price objective on shares of Oracle from $240.00 to $315.00 and gave the stock a “market outperform” rating in a research report on Friday, July 18th. Guggenheim increased their price target on shares of Oracle from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Mizuho increased their price target on shares of Oracle from $245.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Barclays increased their price target on shares of Oracle from $221.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 price objective (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $296.84.

Oracle Stock Performance

NYSE ORCL opened at $307.64 on Wednesday. The company has a fifty day moving average price of $243.59 and a 200-day moving average price of $189.52. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. The firm has a market cap of $864.11 billion, a price-to-earnings ratio of 71.21, a PEG ratio of 4.91 and a beta of 1.46. Oracle has a 1 year low of $118.86 and a 1 year high of $345.72.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, equities research analysts predict that Oracle will post 5 EPS for the current fiscal year.

Insider Buying and Selling at Oracle

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider directly owned 60,722 shares in the company, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rona Alison Fairhead acquired 480 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were bought at an average price of $233.87 per share, with a total value of $112,257.60. Following the completion of the purchase, the director owned 22,110 shares in the company, valued at $5,170,865.70. This trade represents a 2.22% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 44,183 shares of company stock worth $10,353,198. 42.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oracle

Several large investors have recently modified their holdings of ORCL. Vanguard Group Inc. lifted its stake in shares of Oracle by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider’s stock worth $35,916,290,000 after purchasing an additional 3,353,461 shares during the last quarter. State Street Corp increased its holdings in shares of Oracle by 1.7% in the second quarter. State Street Corp now owns 73,459,391 shares of the enterprise software provider’s stock valued at $16,060,427,000 after purchasing an additional 1,252,723 shares during the period. Northern Trust Corp grew its holdings in Oracle by 0.6% during the first quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider’s stock worth $2,760,048,000 after acquiring an additional 120,889 shares during the period. Norges Bank acquired a new stake in Oracle in the second quarter valued at approximately $4,275,378,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Oracle by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider’s stock valued at $1,941,195,000 after purchasing an additional 59,164 shares during the period. Institutional investors own 42.44% of the company’s stock.

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.