Oracle (NYSE:ORCL) Price Target Raised to $340.00 at Evercore ISI

Key Points

• Evercore ISI raised Oracle's price target significantly from $270 to $340, indicating a potential upside of 40.69% based on the company's current share price.
• Oracle reported $1.70 earnings per share, surpassing analyst expectations, with revenue increasing by 11.3% year-over-year to $15.90 billion.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with various price targets ranging from $195 to $340.

Oracle (NYSE:ORCL - Get Free Report) had its target price lifted by research analysts at Evercore ISI from $270.00 to $340.00 in a research note issued on Wednesday, MarketBeat reports. The firm currently has an "outperform" rating on the enterprise software provider's stock. Evercore ISI's price objective points to a potential upside of 40.69% from the company's current price.

A number of other research firms also recently issued reports on ORCL. The Goldman Sachs Group restated a "neutral" rating and issued a $195.00 target price (up from $145.00) on shares of Oracle in a report on Friday, June 13th. CIBC reaffirmed a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Stifel Nicolaus raised shares of Oracle from a "hold" rating to a "buy" rating and lifted their price target for the company from $180.00 to $250.00 in a research report on Monday, June 30th. Bank of America lifted their price target on shares of Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Finally, KeyCorp lifted their price target on shares of Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $264.14.

Oracle Price Performance

Oracle stock opened at $241.67 on Wednesday. Oracle has a 1 year low of $118.86 and a 1 year high of $260.87. The firm has a 50 day moving average price of $240.23 and a 200 day moving average price of $187.60. The company 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. 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 released its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. Oracle's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Oracle will post 5 earnings per share for the current year.

Insider Buying and Selling at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the transaction, the insider directly owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is owned by company insiders.

Institutional Trading of Oracle

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Oracle by 2.1% in the second quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider's stock valued at $35,916,290,000 after acquiring an additional 3,353,461 shares in the last quarter. State Street Corp increased its stake in Oracle by 1.7% during the second quarter. State Street Corp now owns 73,459,391 shares of the enterprise software provider's stock valued at $16,060,427,000 after purchasing an additional 1,252,723 shares during the last quarter. Northern Trust Corp increased its stake in Oracle by 0.6% during 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 purchasing an additional 120,889 shares during the last quarter. Norges Bank bought a new stake in Oracle during the second quarter valued at $4,275,378,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Oracle by 0.4% during 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 valued at $1,941,195,000 after purchasing an additional 59,164 shares during the last quarter. 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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