Oracle (NYSE:ORCL) Price Target Raised to $400.00 at Wolfe Research

Key Points

• Wolfe Research has raised Oracle's price target to $400.00, indicating a potential upside of 65.51% from its previous close, maintaining an "outperform" rating on the stock.
• Other analysts have also increased their price targets, with Barclays raising it from $221.00 to $281.00, and Raymond James reaffirming a "strong-buy" rating.
• Oracle's stock has shown strong performance, with a recent earnings report exceeding expectations, reporting $1.70 EPS and revenues of $15.90 billion for the quarter.

Oracle (NYSE:ORCL - Get Free Report) had its price target increased by Wolfe Research from $300.00 to $400.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the enterprise software provider's stock. Wolfe Research's price target would suggest a potential upside of 65.51% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Barclays upped their target price on Oracle from $221.00 to $281.00 and gave the company an "overweight" rating in a research report on Monday. Raymond James Financial reiterated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. DA Davidson upped their target price on Oracle from $220.00 to $300.00 and gave the company a "neutral" rating in a research report on Wednesday. TD Cowen upped their target price on Oracle from $275.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group restated 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $264.14.

Oracle Price Performance

Shares of ORCL stock opened at $241.67 on Wednesday. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $260.87. The firm has a market capitalization 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. The stock's 50-day simple moving average is $240.23 and its 200-day simple moving average is $187.60.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.Oracle's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. As a group, equities analysts forecast that Oracle will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In related news, insider Michael D. Sicilia sold 15,880 shares of the firm'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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were 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 $7,337,214.04. This trade represents a 9.51% 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. Insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

A number of hedge funds and other institutional investors have recently bought and sold shares of ORCL. Norges Bank purchased a new position in Oracle during the 2nd quarter valued at about $4,275,378,000. Nuveen LLC acquired a new stake in Oracle in the 1st quarter valued at about $732,692,000. GAMMA Investing LLC raised its position in Oracle by 15,012.3% in the 1st quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock valued at $664,810,000 after purchasing an additional 4,723,631 shares in the last quarter. Vanguard Group Inc. raised its position in Oracle by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock valued at $22,498,982,000 after purchasing an additional 3,513,464 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Oracle in the 2nd quarter valued at about $731,512,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

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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