TD Cowen Forecasts Strong Price Appreciation for Oracle (NYSE:ORCL) Stock

Oracle (NYSE:ORCL) had its price target raised by analysts at TD Cowen from $325.00 to $375.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the enterprise software provider’s stock. TD Cowen’s price target would suggest a potential upside of 21.90% from the company’s previous close.

ORCL has been the subject of a number of other reports. Guggenheim increased their target price on Oracle from $250.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Oracle from $185.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a research note on Wednesday, June 18th. Cowen reiterated a “buy” rating on shares of Oracle in a research note on Thursday, June 12th. Finally, Cantor Fitzgerald raised their target price on Oracle from $271.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.84.

Oracle Price Performance

ORCL opened at $307.64 on Wednesday. Oracle has a 1 year low of $118.86 and a 1 year high of $345.72. The company’s 50 day simple moving average is $243.59 and its 200 day simple moving average is $189.52. The stock has a market capitalization of $864.11 billion, a PE ratio of 71.21, a P/E/G ratio of 4.91 and a beta of 1.46. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62.

Oracle (NYSE:ORCL) last posted 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%. Oracle’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. As a group, sell-side analysts expect that Oracle will post 5 EPS for the current year.

Insiders Place Their Bets

In related news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value 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. This trade represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rona Alison Fairhead acquired 480 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was purchased 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 $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. In the last quarter, insiders have sold 44,183 shares of company stock worth $10,353,198. Company insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

Several institutional investors have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle during the 1st quarter valued at about $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle during the 1st quarter worth approximately $28,000. Winnow Wealth LLC acquired a new stake in shares of Oracle during the 2nd quarter worth approximately $28,000. Iron Horse Wealth Management LLC boosted its position 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 valued at $29,000 after purchasing an additional 151 shares during the period. Finally, Sunbeam Capital Management LLC bought a new position in Oracle during the 4th quarter worth $30,000. 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.