Oracle (NYSE:ORCL) Price Target Raised to $300.00

Key Points

• DA Davidson has raised Oracle's target price from $220.00 to $300.00, suggesting a potential upside of 24.14% from its current price, while maintaining a "neutral" rating.
• Oracle recently reported earnings of $1.70 EPS for the last quarter, exceeding analysts' expectations, and showing an 11.3% increase in revenue year-over-year.
• Among Wall Street analysts, Oracle has a consensus rating of "Moderate Buy", with an average price target set at $264.14, indicating strong overall market confidence.

Oracle (NYSE:ORCL - Get Free Report) had its target price increased by stock analysts at DA Davidson from $220.00 to $300.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the enterprise software provider's stock. DA Davidson's price target indicates a potential upside of 24.14% from the company's current price.

A number of other research firms have also recently issued reports on ORCL. The Goldman Sachs Group reissued a "neutral" rating and set a $195.00 target price (up from $145.00) on shares of Oracle in a research note on Friday, June 13th. Citigroup increased their target price on Oracle from $196.00 to $240.00 and gave the stock a "neutral" rating in a research note on Tuesday. Roth Capital reissued a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. KeyCorp increased their target price on Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Finally, Loop Capital set a $135.00 price target on Oracle in a research report on Tuesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and an average price target of $264.14.

Oracle Price Performance

NYSE ORCL opened at $241.67 on Wednesday. The business has a 50 day simple moving average of $240.23 and a 200 day simple moving average of $187.60. Oracle has a 52-week low of $118.86 and a 52-week high of $260.87. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $678.81 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 3.56 and a beta of 1.46.

Oracle (NYSE:ORCL - Get Free Report) last posted 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. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same period in the prior year, the business earned $1.63 EPS. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts anticipate that Oracle will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the sale, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm's 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 directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORCL. Vanguard Group Inc. increased its position in shares of Oracle by 2.1% in the second quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider's stock worth $35,916,290,000 after purchasing an additional 3,353,461 shares during the period. State Street Corp increased its position in shares of Oracle by 1.7% in the second quarter. State Street Corp now owns 73,459,391 shares of the enterprise software provider's stock worth $16,060,427,000 after purchasing an additional 1,252,723 shares during the period. Northern Trust Corp increased its position 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 worth $2,760,048,000 after purchasing an additional 120,889 shares during the period. Norges Bank bought a new position in shares of Oracle in the second quarter worth $4,275,378,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Oracle by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider's stock worth $1,941,195,000 after purchasing an additional 59,164 shares during the period. Institutional investors own 42.44% of the company's stock.

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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