Oracle (NYSE:ORCL) Stock Price Expected to Rise, Melius Research Analyst Says

Key Points

• Melius Research has raised Oracle's target price from $270 to $370, indicating a potential upside of 11.40% from its current stock price.
• Oracle reported an earnings per share (EPS) of $1.70 for the most recent quarter, beating analysts' expectations by $0.06 and reflecting a year-over-year revenue increase of 11.3%.
• The company's stock has received a consensus rating of "Moderate Buy" from analysts, with 25 buy ratings and 2 strong buy ratings issued.

Oracle (NYSE:ORCL - Get Free Report) had its target price increased by equities researchers at Melius Research from $270.00 to $370.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the enterprise software provider's stock. Melius Research's price objective would indicate a potential upside of 11.40% from the stock's current price.

Several other analysts also recently issued reports on ORCL. KeyCorp boosted their target price on shares of Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Bank of America raised shares of Oracle from a "neutral" rating to a "buy" rating and boosted their target price for the company from $295.00 to $368.00 in a research note on Wednesday. Piper Sandler boosted their target price on shares of Oracle from $270.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday. Loop Capital set a $135.00 target price on shares of Oracle in a research note on Tuesday, June 10th. Finally, TD Cowen boosted their target price on shares of Oracle from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Oracle presently has a consensus rating of "Moderate Buy" and a consensus target price of $291.23.

Oracle Price Performance

Shares of NYSE:ORCL traded up $90.64 on Wednesday, reaching $332.15. 92,123,110 shares of the company traded hands, compared to its average volume of 12,534,539. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The company's 50 day moving average is $240.23 and its 200-day moving average is $187.60. The stock has a market capitalization of $932.95 billion, a PE ratio of 77.30, a P/E/G ratio of 3.56 and a beta of 1.46. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data 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. 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 earned $1.63 EPS. The company's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that Oracle will post 5 earnings per share for the current fiscal year.

Insider Transactions at Oracle

In related news, insider Michael D. Sicilia sold 15,880 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the sale, the insider directly owned 99,212 shares in the company, valued at approximately $25,247,469.76. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares of the company's stock, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,183 shares of company stock valued at $86,521,198 in the last three months. 42.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oracle

A number of large investors have recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Oracle by 189.3% during the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock valued at $25,593,000 after acquiring an additional 100,494 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock valued at $903,000 after acquiring an additional 404 shares during the period. Lighthouse Investment Partners LLC boosted its holdings in Oracle by 22.8% during the fourth quarter. Lighthouse Investment Partners LLC now owns 14,740 shares of the enterprise software provider's stock valued at $2,456,000 after acquiring an additional 2,740 shares during the period. Northwest Quadrant Wealth Management LLC boosted its holdings in Oracle by 10.6% during the fourth quarter. Northwest Quadrant Wealth Management LLC now owns 1,867 shares of the enterprise software provider's stock valued at $311,000 after acquiring an additional 179 shares during the period. Finally, Northeast Financial Consultants Inc boosted its holdings in Oracle by 9.6% during the fourth quarter. Northeast Financial Consultants Inc now owns 5,355 shares of the enterprise software provider's stock valued at $892,000 after acquiring an additional 467 shares during the period. 42.44% of the stock is currently owned by 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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