Oracle (NYSE:ORCL) Raised to “Buy” at Citigroup

Oracle (NYSE:ORCL) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a $410.00 price target on the enterprise software provider’s stock, up from their prior price target of $240.00. Citigroup’s price target suggests a potential upside of 33.27% from the stock’s previous close.

ORCL has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $240.00 target price (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Piper Sandler increased their price target on shares of Oracle from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank Of Canada increased their price target on shares of Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, June 12th. Oppenheimer reaffirmed an “outperform” rating on shares of Oracle in a report on Wednesday, June 18th. Finally, KeyCorp increased their price target on shares of Oracle from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, June 12th. 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 company. Based on data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.84.

Oracle Price Performance

NYSE:ORCL opened at $307.64 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.75 and a debt-to-equity ratio of 3.33. The company 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 has a 12 month low of $118.86 and a 12 month high of $345.72. The business’s 50-day moving average is $243.59 and its 200 day moving average is $189.52.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS 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 return on equity of 72.93% and a net margin of 21.08%.The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities research analysts forecast that Oracle will post 5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares of the company’s stock, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 acquired 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 owned 22,110 shares of the company’s stock, valued at $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 44,183 shares of company stock valued at $10,353,198. Insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

Institutional investors have recently bought and sold shares of the business. Redmont Wealth Advisors LLC purchased a new position in Oracle in the first quarter worth $27,000. Inlight Wealth Management LLC purchased a new position in Oracle in the first quarter worth $28,000. Winnow Wealth LLC purchased a new position in Oracle in the second quarter worth $28,000. Iron Horse Wealth Management LLC grew its holdings in Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Sunbeam Capital Management LLC purchased a new position in Oracle in the fourth quarter worth $30,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

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.