Wolfe Research Forecasts Strong Price Appreciation for Oracle (NYSE:ORCL) Stock

Oracle (NYSE:ORCL) had its target price lifted by equities research analysts at Wolfe Research from $300.00 to $400.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the enterprise software provider’s stock. Wolfe Research’s price objective would suggest a potential upside of 30.02% from the company’s previous close.

A number of other analysts also recently weighed in on ORCL. KeyCorp increased their target price on shares of Oracle from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, June 12th. Royal Bank Of Canada upped their price objective on shares of Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a research note on Thursday, June 12th. Morgan Stanley increased their price objective on shares of Oracle from $175.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Monday. Guggenheim boosted their target price on shares of Oracle from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Finally, Citigroup lifted their price objective on Oracle from $196.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two equities research 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’s stock. According to data from MarketBeat, the company presently has an average 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 stock’s 50-day moving average price is $243.59 and its two-hundred day moving average price is $189.52. Oracle has a 12 month low of $118.86 and a 12 month high of $345.72. The company has a market capitalization of $864.11 billion, a PE ratio of 71.21, a PEG ratio of 4.91 and a beta of 1.46. The company has a current ratio of 0.62, a quick ratio of 0.75 and a debt-to-equity ratio of 3.33.

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, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. On average, analysts anticipate that Oracle will post 5 EPS for the current year.

Insider Buying and Selling at Oracle

In other Oracle news, Director Rona Alison Fairhead acquired 480 shares of Oracle stock in a transaction dated Monday, July 7th. The stock was purchased at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the completion of the acquisition, the director directly owned 22,110 shares of the company’s stock, valued at $5,170,865.70. This represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,183 shares of company stock worth $10,353,198 in the last ninety days. 42.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oracle

A number of hedge funds have recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the first quarter valued at approximately $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle in the 1st quarter valued at $28,000. Winnow Wealth LLC bought a new position in Oracle during the 2nd quarter valued at $28,000. Iron Horse Wealth Management LLC boosted its holdings in Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Finally, Sunbeam Capital Management LLC purchased a new position in Oracle during the 4th quarter worth $30,000. Institutional investors and hedge funds 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.