Oracle (NYSE:ORCL) Price Target Raised to $375.00 at TD Cowen

Key Points

• TD Cowen raised Oracle's price target from $325.00 to $375.00, suggesting an 11.86% upside potential based on the stock's previous close.
• In addition to TD Cowen, multiple analysts upgraded Oracle's ratings and targets, with Bank of America setting a new target of $368.00 and Mizuho at $350.00.
• Oracle reported a quarterly earnings per share of $1.70, exceeding analyst expectations, alongside a revenue of $15.90 billion for the quarter.

Oracle (NYSE:ORCL - Get Free Report) had its target price raised by investment analysts at TD Cowen from $325.00 to $375.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the enterprise software provider's stock. TD Cowen's target price points to a potential upside of 11.86% from the stock's previous close.

Several other research analysts also recently issued reports on ORCL. Bank of America raised Oracle from a "neutral" rating to a "buy" rating and set a $368.00 price objective for the company in a research note on Wednesday. Mizuho increased their target price on shares of Oracle from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Oracle from $270.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup reissued an "outperform" rating on shares of Oracle in a research report on Wednesday. Finally, DA Davidson increased their target price on shares of Oracle from $220.00 to $300.00 and gave the company a "neutral" rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $288.52.

Oracle Price Performance

NYSE ORCL traded up $93.73 during trading on Wednesday, hitting $335.24. 84,934,889 shares of the company's stock were exchanged, compared to its average volume of 12,487,906. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market cap of $941.63 billion, a PE ratio of 77.51, a P/E/G ratio of 3.56 and a beta of 1.46. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The stock's 50 day moving average price is $240.23 and its two-hundred day moving average price is $187.60.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. Research analysts expect that Oracle will post 5 EPS for the current year.

Insider Buying and Selling at Oracle

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the transaction, the director owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the completion of the transaction, the insider directly owned 99,212 shares in the company, valued at $25,247,469.76. This trade represents a 13.80% 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 worth $86,521,198. 42.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oracle

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Winnow Wealth LLC bought a new position in shares of Oracle in the second quarter worth approximately $28,000. Kilter Group LLC bought a new position in shares of Oracle in the second quarter worth approximately $30,000. LGT Financial Advisors LLC bought a new position in shares of Oracle in the second quarter worth approximately $33,000. Legend Financial Advisors Inc. bought a new position in shares of Oracle in the second quarter worth approximately $34,000. Finally, HighMark Wealth Management LLC bought a new position in shares of Oracle in the second quarter worth approximately $38,000. 42.44% of the stock is currently owned by 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.

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