Oracle Corp. (ORCL) Given a $52.00 Price Target at DA Davidson
Several other equities research analysts have also recently weighed in on the stock. Vetr upgraded shares of Oracle Corp. from a buy rating to a strong-buy rating and set a $45.46 target price for the company in a research note on Monday, September 12th. Barclays PLC reiterated a buy rating on shares of Oracle Corp. in a research note on Monday, September 12th. Goldman Sachs Group Inc. reiterated a buy rating and issued a $47.00 target price on shares of Oracle Corp. in a research note on Sunday, September 25th. Bank of America Corp. reiterated a buy rating and issued a $48.00 target price on shares of Oracle Corp. in a research note on Thursday, September 22nd. Finally, Zacks Investment Research cut shares of Oracle Corp. from a hold rating to a sell rating in a research note on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $44.76.
Oracle Corp. (NYSE:ORCL) opened at 38.01 on Tuesday. The firm has a market cap of $156.05 billion, a PE ratio of 18.06 and a beta of 1.23. Oracle Corp. has a 52 week low of $33.13 and a 52 week high of $42.00. The firm’s 50 day moving average price is $39.98 and its 200-day moving average price is $40.27.
Oracle Corp. (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business earned $8.60 billion during the quarter. Oracle Corp. had a net margin of 24.16% and a return on equity of 22.10%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, analysts forecast that Oracle Corp. will post $2.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, October 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. Oracle Corp.’s dividend payout ratio is currently 28.57%.
In related news, EVP John F. Fowler sold 500,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the completion of the sale, the executive vice president now directly owns 119,645 shares in the company, valued at approximately $4,925,784.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $41.78, for a total transaction of $156,675.00. Following the sale, the director now owns 8,281 shares of the company’s stock, valued at $345,980.18. The disclosure for this sale can be found here. Corporate insiders own 29.00% of the company’s stock.
A number of large investors have recently bought and sold shares of ORCL. Saddle Road Partners LLC raised its stake in Oracle Corp. by 4.0% in the first quarter. Saddle Road Partners LLC now owns 99,472 shares of the enterprise software provider’s stock worth $4,069,000 after buying an additional 3,814 shares in the last quarter. PGGM Investments increased its position in shares of Oracle Corp. by 1.5% in the first quarter. PGGM Investments now owns 2,938,277 shares of the enterprise software provider’s stock worth $120,205,000 after buying an additional 42,911 shares during the last quarter. Douglas Lane & Associates LLC bought a new position in shares of Oracle Corp. during the first quarter worth about $531,000. Acropolis Investment Management LLC increased its position in shares of Oracle Corp. by 12.6% in the first quarter. Acropolis Investment Management LLC now owns 13,880 shares of the enterprise software provider’s stock worth $568,000 after buying an additional 1,555 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Oracle Corp. by 778.5% in the first quarter. DAVENPORT & Co LLC now owns 788,529 shares of the enterprise software provider’s stock worth $32,259,000 after buying an additional 698,771 shares during the last quarter. Institutional investors own 58.24% of the company’s stock.
About Oracle Corp.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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