BidaskClub Upgrades Oracle Corporation (ORCL) to Buy
Oracle Corporation (NYSE:ORCL) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday.
ORCL has been the subject of a number of other research reports. Credit Suisse Group began coverage on Oracle Corporation in a report on Tuesday, September 5th. They set an “outperform” rating and a $62.00 target price for the company. KeyCorp reiterated a “buy” rating and set a $61.00 target price on shares of Oracle Corporation in a report on Tuesday, July 18th. MKM Partners reiterated a “neutral” rating and set a $48.00 target price (up previously from $45.00) on shares of Oracle Corporation in a report on Friday, June 23rd. Cowen and Company reiterated an “outperform” rating and set a $55.00 target price (up previously from $48.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. Finally, Bank of America Corporation restated a “buy” rating and issued a $62.00 price target (up previously from $54.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $51.55.
Shares of Oracle Corporation (NYSE ORCL) opened at 52.49 on Tuesday. Oracle Corporation has a one year low of $37.62 and a one year high of $52.61. The firm has a market cap of $217.13 billion, a PE ratio of 23.75 and a beta of 1.05. The company has a 50-day moving average of $49.78 and a 200 day moving average of $46.74.
Oracle Corporation (NYSE:ORCL) last issued its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The business had revenue of $10.94 billion during the quarter, compared to analysts’ expectations of $10.45 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Oracle Corporation will post $2.95 EPS for the current fiscal year.
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In other news, EVP W Corey West sold 150,000 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the completion of the sale, the executive vice president now directly owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $44.57, for a total value of $167,137.50. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $807,831.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,817,500 shares of company stock valued at $91,560,925. 29.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ORCL. Vanguard Group Inc. lifted its stake in Oracle Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after acquiring an additional 5,270,359 shares in the last quarter. BlackRock Inc. lifted its stake in Oracle Corporation by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after acquiring an additional 4,678,977 shares in the last quarter. State Street Corp lifted its stake in Oracle Corporation by 1.0% in the 1st quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock worth $5,495,769,000 after acquiring an additional 1,187,802 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Oracle Corporation by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock worth $2,397,824,000 after acquiring an additional 1,521,879 shares in the last quarter. Finally, Harris Associates L P lifted its stake in Oracle Corporation by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after acquiring an additional 7,427,501 shares in the last quarter. 58.67% of the stock is owned by institutional investors and hedge funds.
Oracle Corporation Company Profile
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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