Scotiabank Boosts Oracle (NYSE:ORCL) Price Target to $350.00

Key Points

• Scotiabank has raised Oracle's price target from $300.00 to $350.00, reflecting a potential upside of 4.64% from its previous close and maintaining a "sector outperform" rating on the stock.
• Oracle stock recently reached $334.49, showing a 38.5% increase year-to-date, with a market capitalization of approximately $939.53 billion.
• Corporate insiders have recently sold significant amounts of stock, with approximately 444,183 shares being sold over the last 90 days, indicating possible changes in confidence among executives.

Oracle (NYSE:ORCL - Get Free Report) had its price objective lifted by Scotiabank from $300.00 to $350.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "sector outperform" rating on the enterprise software provider's stock. Scotiabank's price target suggests a potential upside of 4.64% from the company's previous close.

ORCL has been the subject of several other research reports. Piper Sandler lifted their price objective on Oracle from $270.00 to $330.00 and gave the stock an "overweight" rating in a report on Wednesday. Wolfe Research lifted their price objective on Oracle from $300.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday. Loop Capital set a $135.00 price objective on Oracle in a report on Tuesday, June 10th. Royal Bank Of Canada lifted their target price on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, June 12th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $286.79.

Oracle Stock Up 38.5%

ORCL stock traded up $92.98 on Wednesday, reaching $334.49. 45,391,525 shares of the company traded hands, compared to its average volume of 12,231,751. Oracle has a one year low of $118.86 and a one year high of $339.69. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $939.53 billion, a P/E ratio of 77.33, a price-to-earnings-growth ratio of 3.56 and a beta of 1.46. The firm has a fifty day simple moving average of $240.23 and a 200-day simple moving average of $187.60.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion during 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%.The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. Research analysts anticipate that Oracle will post 5 earnings per share for the current year.

Insider Buying and Selling at Oracle

In other news, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction that occurred 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 sale, the director directly owned 31,447 shares in the company, valued at approximately $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Sicilia sold 15,880 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the transaction, the insider owned 99,212 shares in the company, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,183 shares of company stock valued at $86,521,198. Corporate insiders own 42.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ORCL. Vanguard Group Inc. boosted its position in Oracle by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider's stock valued at $35,916,290,000 after acquiring an additional 3,353,461 shares in the last quarter. State Street Corp lifted its position in Oracle by 1.7% during the 2nd quarter. State Street Corp now owns 73,459,391 shares of the enterprise software provider's stock worth $16,060,427,000 after acquiring an additional 1,252,723 shares during the period. Northern Trust Corp lifted its position in Oracle by 0.6% during the 1st quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider's stock worth $2,760,048,000 after acquiring an additional 120,889 shares during the period. Norges Bank acquired a new stake in Oracle during the 2nd quarter worth about $4,275,378,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Oracle by 0.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider's stock worth $1,941,195,000 after acquiring an additional 59,164 shares during the period. 42.44% of the stock is currently owned by hedge funds and other 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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