Cantor Fitzgerald Increases Oracle (NYSE:ORCL) Price Target to $400.00

Key Points

• Cantor Fitzgerald has increased its price target for Oracle from $271.00 to $400.00, indicating a potential upside of 22.73% based on the stock's prior close.
• Several other analysts have also raised their price targets for Oracle, with estimates ranging from $275.00 to $340.00, reflecting a positive outlook on the company.
• Oracle recently reported a quarterly earnings per share (EPS) of $1.70, beating analyst expectations and showing a revenue growth of 11.3% year-over-year.

Oracle (NYSE:ORCL - Get Free Report) had its target price hoisted by equities research analysts at Cantor Fitzgerald from $271.00 to $400.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the enterprise software provider's stock. Cantor Fitzgerald's target price suggests a potential upside of 22.73% from the stock's previous close.

A number of other analysts have also weighed in on ORCL. Piper Sandler upped their price objective on shares of Oracle from $270.00 to $330.00 and gave the stock an "overweight" rating in a research note on Wednesday. BMO Capital Markets upped their price objective on shares of Oracle from $245.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday. Cowen reiterated a "buy" rating on shares of Oracle in a report on Thursday, June 12th. Morgan Stanley lifted their target price on shares of Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Evercore ISI lifted their price target on shares of Oracle from $270.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $282.31.

Oracle Trading Up 34.9%

Shares of ORCL opened at $325.92 on Wednesday. The company's fifty day moving average is $240.23 and its 200 day moving average is $187.60. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $320.99. The stock has a market capitalization of $915.45 billion, a PE ratio of 73.46, a P/E/G ratio of 3.56 and a beta of 1.46. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. Oracle's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 earnings per share. Sell-side analysts expect that Oracle will post 5 earnings per share for the current fiscal year.

Insider Transactions at Oracle

In other news, Director Naomi O. Seligman sold 3,303 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the sale, the director owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the sale, the insider owned 60,722 shares of the company's stock, valued at $13,000,580.20. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 444,183 shares of company stock valued at $86,521,198 over the last three months. 42.20% of the stock is owned by corporate insiders.

Institutional Trading of Oracle

A number of hedge funds have recently added to or reduced their stakes in ORCL. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in the 1st quarter valued at about $27,000. Inlight Wealth Management LLC acquired a new position in shares of Oracle in the 1st quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new stake in shares of Oracle during the 2nd quarter valued at approximately $28,000. Iron Horse Wealth Management LLC raised its position in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after acquiring an additional 151 shares in the last quarter. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of Oracle during the 4th quarter valued at approximately $30,000. 42.44% of the stock is owned by institutional investors and hedge funds.

About Oracle

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 Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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