Evercore ISI Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL - Get Free Report) had its target price raised by investment analysts at Evercore ISI from $180.00 to $215.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the enterprise software provider's stock. Evercore ISI's price objective indicates a potential upside of 7.68% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald dropped their price target on shares of Oracle from $214.00 to $175.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. BMO Capital Markets boosted their price target on shares of Oracle from $175.00 to $200.00 and gave the stock a "market perform" rating in a research note on Monday. DA Davidson dropped their price target on shares of Oracle from $150.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Piper Sandler restated a "neutral" rating and issued a $130.00 price target on shares of Oracle in a research note on Wednesday. Finally, JMP Securities boosted their price target on shares of Oracle from $205.00 to $240.00 and gave the stock a "market outperform" rating in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.30.

Oracle Trading Up 13.2%

Oracle stock traded up $23.29 during trading on Thursday, hitting $199.67. The company had a trading volume of 54,558,768 shares, compared to its average volume of 9,567,888. The company's 50 day simple moving average is $149.60 and its 200-day simple moving average is $160.36. The stock has a market cap of $558.47 billion, a price-to-earnings ratio of 48.82, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle has a 1-year low of $118.86 and a 1-year high of $202.43.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 earnings per share. As a group, analysts expect that Oracle will post 5 EPS for the current fiscal year.

Insider Activity at Oracle

In other news, Director Naomi O. Seligman sold 2,866 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director now directly owns 31,764 shares of the company's stock, valued at approximately $4,749,670.92. This represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leon E. Panetta sold 5,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $129.77, for a total transaction of $648,850.00. Following the completion of the sale, the director now directly owns 58,090 shares of the company's stock, valued at $7,538,339.30. The trade was a 7.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,366 shares of company stock valued at $4,015,723 over the last ninety days. Insiders own 42.20% of the company's stock.

Institutional Investors Weigh In On Oracle

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 valued at $22,498,982,000 after buying an additional 3,513,464 shares during the last quarter. FMR LLC raised its holdings in shares of Oracle by 0.4% in the fourth quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider's stock valued at $6,332,803,000 after buying an additional 156,269 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Oracle by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider's stock valued at $5,954,961,000 after buying an additional 619,619 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Oracle by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider's stock valued at $3,366,531,000 after buying an additional 1,722,037 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Oracle by 0.6% in the first quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider's stock valued at $2,760,048,000 after buying an additional 120,889 shares during the last quarter. 42.44% of the stock is 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.