Oracle (NYSE:ORCL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs raised Oracle's price target from $195.00 to $310.00, indicating a potential upside of 3.83% from the previous close, while maintaining a "neutral" rating.
• Several other analysts have set higher price targets for Oracle, with Cowen targeting $375.00 and Cantor Fitzgerald at $400.00, contributing to a consensus average target price of $300.61.
• Oracle shares saw a trading increase of 2.2%, with a current stock price of $298.58 during midday trading, and the company has a market cap of approximately $848.46 billion.

Oracle (NYSE:ORCL - Get Free Report) had its price objective hoisted by research analysts at The Goldman Sachs Group from $195.00 to $310.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the enterprise software provider's stock. The Goldman Sachs Group's target price would suggest a potential upside of 3.83% from the company's previous close.

ORCL has been the subject of a number of other reports. Cowen reiterated a "buy" rating and set a $375.00 price target on shares of Oracle in a report on Wednesday, September 10th. Cantor Fitzgerald upped their target price on shares of Oracle from $271.00 to $400.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 10th. DA Davidson increased their price objective on shares of Oracle from $220.00 to $300.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Piper Sandler increased their price target on shares of Oracle from $270.00 to $330.00 and gave the company an "overweight" rating in a report on Wednesday, September 10th. Finally, Citigroup reiterated an "outperform" rating on shares of Oracle in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and an average target price of $300.61.

Oracle Trading Up 2.2%

Shares of ORCL traded up $6.40 during mid-day trading on Monday, reaching $298.58. The company's stock had a trading volume of 30,438,964 shares, compared to its average volume of 13,429,882. The stock has a market cap of $848.46 billion, a PE ratio of 69.11, a P/E/G ratio of 3.16 and a beta of 1.46. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33. Oracle has a 52 week low of $118.86 and a 52 week high of $345.72. The company's fifty day moving average price is $244.69 and its two-hundred day moving average price is $190.68.

Insider Buying and Selling

In other news, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,183 shares of company stock worth $10,353,198. 42.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oracle

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Oracle by 71.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after acquiring an additional 107,404 shares during the last quarter. Lockheed Martin Investment Management Co. grew its holdings in shares of Oracle by 4.3% during the first quarter. Lockheed Martin Investment Management Co. now owns 51,350 shares of the enterprise software provider's stock valued at $7,179,000 after buying an additional 2,110 shares in the last quarter. Strs Ohio purchased a new position in shares of Oracle during the first quarter valued at $108,572,000. CBM Financial LLC purchased a new position in shares of Oracle during the first quarter valued at $356,000. Finally, Nuveen LLC purchased a new position in shares of Oracle during the first quarter valued at $732,692,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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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