Oracle (NYSE:ORCL)‘s stock had its “buy” rating reaffirmed by stock analysts at Drexel Hamilton in a research note issued on Tuesday. They currently have a $62.00 price objective on the enterprise software provider’s stock. Drexel Hamilton’s price target would indicate a potential upside of 23.88% from the company’s previous close.

The analysts wrote, “We believe the new innovations announced at Oracle OpenWorld in early October can take Oracle’s cloud portfolio to a whole new level and we believe the stock can continue to move in an upward trajectory over the next year. At OpenWorld, Oracle unveiled the Oracle 18c Autonomous Database, described as the world’s first and only fully autonomous database” and a major database innovation for the company.””

Several other equities research analysts also recently issued reports on the stock. Credit Suisse Group initiated coverage on shares of Oracle in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 target price for the company. Zacks Investment Research downgraded shares of Oracle from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Vetr downgraded shares of Oracle from a “buy” rating to a “hold” rating and set a $46.58 target price for the company. in a research note on Sunday, September 3rd. ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, UBS reiterated a “neutral” rating and issued a $55.00 target price (down from $57.00) on shares of Oracle in a research note on Thursday, November 9th. Thirteen analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Oracle has a consensus rating of “Buy” and an average price target of $55.14.

Oracle (ORCL) opened at $50.05 on Tuesday. The firm has a market capitalization of $210,301.95, a PE ratio of 19.76, a PEG ratio of 1.92 and a beta of 1.05. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. Oracle has a 1-year low of $38.30 and a 1-year high of $53.14.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter last year, the company earned $0.55 EPS. Oracle’s revenue for the quarter was up 7.0% compared to the same quarter last year. sell-side analysts expect that Oracle will post 2.68 earnings per share for the current fiscal year.

In other Oracle news, EVP Dorian Daley sold 76,703 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total transaction of $3,758,447.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the sale, the director now directly owns 18,125 shares in the company, valued at approximately $885,043.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 305,776 shares of company stock worth $14,821,999. Insiders own 29.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC lifted its holdings in shares of Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors lifted its holdings in shares of Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after purchasing an additional 88 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Oracle by 65.9% during the second quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after purchasing an additional 947 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in shares of Oracle by 81,200.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after purchasing an additional 2,436 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Oracle during the second quarter worth $129,000. 57.70% of the stock is currently owned by hedge funds and other institutional investors.

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Oracle 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.

Analyst Recommendations for Oracle (NYSE:ORCL)

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