Oracle (NYSE:ORCL) Price Target Raised to $221.00

Oracle (NYSE:ORCL - Get Free Report) had its price target increased by equities researchers at Barclays from $202.00 to $221.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the enterprise software provider's stock. Barclays's target price would indicate a potential upside of 2.53% from the company's current price.

Other equities research analysts have also issued research reports about the company. Piper Sandler restated a "neutral" rating and set a $130.00 price target on shares of Oracle in a research note on Wednesday. BMO Capital Markets upgraded Oracle from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $200.00 to $235.00 in a research note on Friday. Jefferies Financial Group boosted their price target on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday. Cantor Fitzgerald dropped their price target on Oracle from $214.00 to $175.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Finally, Citigroup boosted their price target on Oracle from $160.00 to $186.00 and gave the stock a "neutral" rating in a research note on Monday. Twelve investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $194.32.

Oracle Stock Up 7.8%

ORCL stock traded up $15.68 during trading on Friday, reaching $215.54. 53,639,099 shares of the company traded hands, compared to its average volume of 9,727,755. Oracle has a 12 month low of $118.86 and a 12 month high of $216.46. The business has a 50 day simple moving average of $151.06 and a 200 day simple moving average of $160.44. The company has a market capitalization of $602.86 billion, a price-to-earnings ratio of 52.70, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The company's revenue was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that Oracle will post 5 earnings per share for the current fiscal year.

Insider Activity

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the sale, the insider now directly owns 1,097,576 shares in the company, valued at $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leon E. Panetta sold 17,500 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the sale, the director now owns 58,090 shares of the company's stock, valued at $8,785,531.60. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,366 shares of company stock worth $80,183,723 over the last three months. 42.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Oracle

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Oracle in the fourth quarter worth approximately $2,216,314,000. Raymond James Financial Inc. acquired a new stake in shares of Oracle in the fourth quarter worth approximately $930,095,000. Nuveen LLC acquired a new stake in shares of Oracle in the first quarter worth approximately $732,692,000. GAMMA Investing LLC boosted its stake in shares of Oracle by 15,012.3% in the first quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock worth $664,810,000 after acquiring an additional 4,723,631 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Oracle by 2.2% in the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock worth $22,498,982,000 after acquiring an additional 3,513,464 shares during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

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.