Goldman Sachs Group, Inc. (The) Analysts Give Oracle Corporation (ORCL) a $56.00 Price Target
Goldman Sachs Group, Inc. (The) set a $56.00 price objective on Oracle Corporation (NYSE:ORCL) in a research report report published on Friday. The brokerage currently has a buy rating on the enterprise software provider’s stock.
A number of other brokerages have also commented on ORCL. Jefferies Group LLC boosted their price target on Oracle Corporation from $60.00 to $61.00 and gave the company a buy rating in a report on Friday, September 15th. Credit Suisse Group initiated coverage on Oracle Corporation in a report on Tuesday, September 5th. They issued an outperform rating and a $62.00 price target on the stock. KeyCorp restated a buy rating and issued a $61.00 price target on shares of Oracle Corporation in a report on Tuesday, July 18th. BidaskClub upgraded Oracle Corporation from a hold rating to a buy rating in a report on Tuesday, September 12th. Finally, Mitsubishi UFJ Financial Group restated a buy rating and issued a $63.00 price target on shares of Oracle Corporation in a report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $53.37.
Shares of Oracle Corporation (NYSE ORCL) opened at 48.40 on Friday. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14. The stock has a market capitalization of $201.98 billion, a P/E ratio of 21.05 and a beta of 1.05. The stock’s 50 day moving average price is $49.52 and its 200 day moving average price is $47.52.
Oracle Corporation (NYSE:ORCL) last posted its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The firm had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Oracle Corporation will post $2.94 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. Oracle Corporation’s dividend payout ratio (DPR) is currently 33.19%.
In other Oracle Corporation news, EVP Dorian Daley sold 76,703 shares of Oracle Corporation stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total transaction of $3,758,447.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George H. Conrades sold 56,250 shares of Oracle Corporation stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $48.22, for a total value of $2,712,375.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $482,200. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,776 shares of company stock valued at $52,673,112 in the last quarter. Company insiders own 29.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC boosted its stake in Oracle Corporation by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares during the last quarter. Burt Wealth Advisors boosted its stake in Oracle Corporation by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Oracle Corporation by 1,150.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after purchasing an additional 2,300 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in Oracle Corporation by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after purchasing an additional 1,264 shares during the last quarter. Finally, Baystate Wealth Management LLC boosted its stake in Oracle Corporation by 9.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 57.83% of the company’s stock.
About Oracle Corporation
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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