Oracle (NYSE:ORCL) Given New $350.00 Price Target at Mizuho

Key Points

• Mizuho raised Oracle's price target from $300 to $350, indicating a potential upside of 7.39% from its current price.
• Oracle's shares have received various positive ratings recently, with Bank of America upgrading it to "buy" and setting a target price of $368.
• Oracle reported a stronger-than-expected earnings per share of $1.70 and revenue of $15.90 billion for the last quarter, surpassing analyst estimates.

Oracle (NYSE:ORCL - Get Free Report) had its price target hoisted by research analysts at Mizuho from $300.00 to $350.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the enterprise software provider's stock. Mizuho's price objective suggests a potential upside of 7.39% from the company's current price.

Several other research firms have also weighed in on ORCL. Bank of America upgraded shares of Oracle from a "neutral" rating to a "buy" rating and set a $368.00 target price on the stock in a report on Wednesday. The Goldman Sachs Group reissued a "neutral" rating and issued a $195.00 price objective (up previously from $145.00) on shares of Oracle in a research report on Friday, June 13th. Piper Sandler lifted their price objective on shares of Oracle from $270.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group raised their target price on shares of Oracle from $250.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Oracle from $270.00 to $360.00 and gave the stock a "buy" 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $282.31.

Oracle Price Performance

Shares of Oracle stock opened at $325.92 on Wednesday. Oracle has a 1-year low of $118.86 and a 1-year high of $320.99. The firm's 50-day moving average price is $240.23 and its two-hundred day moving average price is $187.60. The stock has a market capitalization of $915.45 billion, a price-to-earnings ratio of 73.46, a P/E/G ratio of 3.56 and a beta of 1.46. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 earnings per share. On average, equities analysts predict that Oracle will post 5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction on Tuesday, June 17th. The shares were 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 in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the sale, the insider owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 444,183 shares of company stock valued at $86,521,198. Insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

Large investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle during the 1st quarter valued at about $27,000. Inlight Wealth Management LLC bought a new position in Oracle in the 1st quarter worth approximately $28,000. Winnow Wealth LLC bought a new position in Oracle in the 2nd quarter worth approximately $28,000. Iron Horse Wealth Management LLC boosted its stake in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of Oracle during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 42.44% 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 Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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