TD Cowen Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Key Points

• TD Cowen has raised its price target for Oracle stock from $275.00 to $325.00, indicating a potential upside of 27.47% from the previous close.
• The company recently reported earnings of $1.70 per share, exceeding analysts' expectations of $1.64, with a year-over-year revenue increase of 11.3%.
• Oracle's stock currently holds a consensus rating of "Moderate Buy," with 23 analysts rating it as a buy and 9 with a hold rating.

Oracle (NYSE:ORCL - Get Free Report) had its price objective raised by stock analysts at TD Cowen from $275.00 to $325.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the enterprise software provider's stock. TD Cowen's target price indicates a potential upside of 30.74% from the stock's previous close.

Several other equities analysts have also issued reports on ORCL. Evercore ISI lifted their price target on Oracle from $215.00 to $270.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Piper Sandler raised shares of Oracle from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $190.00 to $270.00 in a research note on Thursday, July 10th. Morgan Stanley restated an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. KeyCorp upped their price target on Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Finally, Scotiabank started coverage on shares of Oracle in a report on Thursday, July 17th. They issued a "sector outperform" rating and a $300.00 target price on the stock. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $222.75.

Oracle Stock Performance

NYSE:ORCL traded down $7.84 on Wednesday, hitting $248.59. The company's stock had a trading volume of 6,790,623 shares, compared to its average volume of 12,032,979. Oracle has a one year low of $118.86 and a one year high of $260.87. The firm has a market capitalization of $698.24 billion, a P/E ratio of 57.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.43. The stock has a fifty day moving average of $219.21 and a two-hundred day moving average of $176.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share 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 business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts predict that Oracle will post 5 earnings per share for the current year.

Insider Buying and Selling

In other Oracle news, Director Rona Alison Fairhead purchased 480 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was purchased at an average price of $233.87 per share, for a total transaction of $112,257.60. Following the purchase, the director directly owned 22,110 shares in the company, valued at approximately $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 428,303 shares of company stock valued at $82,480,056 over the last ninety days. Company insiders own 42.20% of the company's stock.

Institutional Investors Weigh In On Oracle

Several institutional investors have recently modified their holdings of ORCL. Redmont Wealth Advisors LLC acquired a new stake in Oracle during the 1st quarter valued at $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle in the 1st quarter worth about $28,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after acquiring an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new stake in Oracle in the fourth quarter valued at approximately $30,000. Finally, LGT Financial Advisors LLC purchased a new position in Oracle during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

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.