Oracle (NYSE:ORCL) Price Target Raised to $370.00

Oracle (NYSE:ORCL) had its price objective increased by stock analysts at Melius Research from $270.00 to $370.00 in a research report issued on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the enterprise software provider’s stock. Melius Research’s price objective suggests a potential upside of 20.27% from the company’s current price.

ORCL has been the topic of several other research reports. Guggenheim lifted their price objective on Oracle from $250.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $195.00 target price (up from $145.00) on shares of Oracle in a research report on Friday, June 13th. Westpark Capital boosted their price target on shares of Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Mizuho raised their price objective on shares of Oracle from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald lifted their target price on shares of Oracle from $271.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $296.84.

Oracle Stock Down 6.3%

Shares of ORCL opened at $307.64 on Wednesday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62. The company has a 50-day simple moving average of $243.59 and a 200-day simple moving average of $189.52. Oracle has a 52 week low of $118.86 and a 52 week high of $345.72. The firm has a market capitalization of $864.11 billion, a P/E ratio of 71.21, a P/E/G ratio of 4.91 and a beta of 1.46.

Oracle (NYSE:ORCL) last released its 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 business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $1.63 earnings per share. On average, equities research analysts expect that Oracle will post 5 earnings per share for the current year.

Insider Activity

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the 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 sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the sale, the director directly owned 31,447 shares of the company’s stock, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,183 shares of company stock valued at $10,353,198. Corporate insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

Several large investors have recently made changes to their positions in ORCL. Snider Financial Group raised its position in shares of Oracle by 1.3% in the 2nd quarter. Snider Financial Group now owns 3,204 shares of the enterprise software provider’s stock valued at $701,000 after buying an additional 40 shares in the last quarter. SNS Financial Group LLC increased its stake in Oracle by 0.9% in the second quarter. SNS Financial Group LLC now owns 4,896 shares of the enterprise software provider’s stock valued at $1,070,000 after acquiring an additional 42 shares during the last quarter. PKS Advisory Services LLC lifted its stake in Oracle by 1.9% during the second quarter. PKS Advisory Services LLC now owns 2,211 shares of the enterprise software provider’s stock worth $483,000 after purchasing an additional 42 shares during the last quarter. Reyes Financial Architecture Inc. boosted its holdings in shares of Oracle by 7.2% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 643 shares of the enterprise software provider’s stock valued at $141,000 after purchasing an additional 43 shares in the last quarter. Finally, Creative Capital Management Investments LLC increased its stake in shares of Oracle by 5.7% in the 2nd quarter. Creative Capital Management Investments LLC now owns 798 shares of the enterprise software provider’s stock valued at $174,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Oracle Company Profile

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.