Oracle (NYSE:ORCL) Stock Price Expected to Rise, JMP Securities Analyst Says

Oracle (NYSE:ORCL - Get Free Report) had its price objective raised by equities researchers at JMP Securities from $240.00 to $315.00 in a report released on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the enterprise software provider's stock. JMP Securities' price objective would indicate a potential upside of 26.53% from the company's current price.

Several other analysts also recently issued reports on the company. Roth Capital restated a "hold" rating on shares of Oracle in a research report on Wednesday, June 18th. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. Citigroup restated an "outperform" rating on shares of Oracle in a research note on Friday. UBS Group raised their price objective on Oracle from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday. Finally, CIBC reissued a "buy" rating on shares of Oracle in a report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Oracle has a consensus rating of "Moderate Buy" and a consensus target price of $218.29.

Oracle Stock Up 3.2%

Shares of ORCL opened at $248.95 on Friday. The firm has a fifty day moving average price of $194.31 and a 200-day moving average price of $168.39. Oracle has a 12-month low of $118.86 and a 12-month high of $251.60. 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 firm has a market capitalization of $699.25 billion, a P/E ratio of 57.36, a P/E/G ratio of 3.61 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. Equities research analysts expect that Oracle will post 5 earnings per share for the current year.

Insider Activity at Oracle

In related news, Director Leon E. Panetta sold 17,500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total value of $2,646,700.00. Following the sale, the director owned 58,090 shares of the company's stock, valued at $8,785,531.60. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 445,366 shares of company stock valued at $84,784,653 in the last three months. Company insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Oracle during the 4th quarter valued at approximately $2,216,314,000. Nuveen LLC purchased a new stake in shares of Oracle during the 1st quarter worth about $732,692,000. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 4,723,631 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 3,513,464 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Oracle in the 2nd quarter worth approximately $731,512,000. Hedge funds and other 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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