Oracle (NYSE:ORCL – Get Rating) had its target price reduced by Societe Generale to $91.00 in a report released on Tuesday, Stock Target Advisor reports. Societe Generale’s price objective would indicate a potential upside of 33.61% from the stock’s previous close.
Several other equities analysts also recently commented on the company. Cowen decreased their target price on Oracle from $107.00 to $98.00 and set an “outperform” rating on the stock in a research report on Thursday, June 9th. BNP Paribas upgraded Oracle from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Wednesday, June 29th. Jefferies Financial Group set a $80.00 target price on Oracle in a research note on Tuesday, September 13th. Cowen cut their target price on Oracle from $107.00 to $98.00 in a research note on Thursday, June 9th. Finally, Berenberg Bank started coverage on Oracle in a research note on Wednesday, September 14th. They issued a “hold” rating and a $72.00 price target for the company. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Oracle presently has a consensus rating of “Hold” and an average target price of $88.67.
Oracle Stock Down 1.4 %
Shares of Oracle stock traded down $0.96 during trading on Tuesday, reaching $68.11. 8,618,258 shares of the company were exchanged, compared to its average volume of 8,402,563. Oracle has a twelve month low of $63.76 and a twelve month high of $106.34. The business has a 50-day moving average price of $75.07 and a 200-day moving average price of $74.74. The firm has a market capitalization of $183.60 billion, a price-to-earnings ratio of 32.43, a P/E/G ratio of 2.06 and a beta of 0.87.
Oracle (NYSE:ORCL – Get Rating) last announced its quarterly earnings data on Monday, September 12th. The enterprise software provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.04). Oracle had a negative return on equity of 161.07% and a net margin of 13.15%. The company had revenue of $11.45 billion for the quarter, compared to analyst estimates of $11.44 billion. During the same period last year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that Oracle will post 4.17 EPS for the current fiscal year.
Insider Activity
In other Oracle news, insider Edward Screven sold 419,174 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total value of $29,015,224.28. Following the completion of the sale, the insider now directly owns 2,492,613 shares of the company’s stock, valued at $172,538,671.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Edward Screven sold 419,174 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total value of $29,015,224.28. Following the completion of the transaction, the insider now directly owns 2,492,613 shares of the company’s stock, valued at $172,538,671.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Safra Catz sold 980,000 shares of the stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $69.80, for a total transaction of $68,404,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $78,077,721.60. The disclosure for this sale can be found here. Insiders sold 2,399,174 shares of company stock worth $164,289,224 in the last three months. Corporate insiders own 43.40% of the company’s stock.
Institutional Investors Weigh In On Oracle
Hedge funds and other institutional investors have recently bought and sold shares of the business. Inscription Capital LLC grew its holdings in shares of Oracle by 83.9% during the second quarter. Inscription Capital LLC now owns 7,925 shares of the enterprise software provider’s stock valued at $554,000 after buying an additional 3,615 shares during the last quarter. Brown Advisory Inc. raised its position in Oracle by 5.2% in the second quarter. Brown Advisory Inc. now owns 421,047 shares of the enterprise software provider’s stock worth $29,418,000 after acquiring an additional 20,696 shares during the period. B. Riley Wealth Management Inc. raised its position in Oracle by 76.4% in the second quarter. B. Riley Wealth Management Inc. now owns 17,448 shares of the enterprise software provider’s stock worth $254,188,000 after acquiring an additional 7,558 shares during the period. Amundi raised its position in Oracle by 10.3% in the second quarter. Amundi now owns 3,334,140 shares of the enterprise software provider’s stock worth $231,558,000 after acquiring an additional 312,684 shares during the period. Finally, Cim Investment Management Inc. bought a new position in Oracle in the second quarter worth approximately $558,000. Hedge funds and other institutional investors own 41.92% 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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.