Oracle (NYSE:ORCL) Price Target Raised to $170.00

Oracle (NYSE:ORCL) had its target price raised by investment analysts at Jefferies Financial Group from $150.00 to $170.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the enterprise software provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 8.28% from the stock’s previous close.

ORCL has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price target on Oracle from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Sanford C. Bernstein lifted their price target on shares of Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Stifel Nicolaus boosted their price target on Oracle from $120.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, June 12th. DA Davidson boosted their price objective on Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Oracle from $110.00 to $120.00 in a research note on Monday. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.52.

Oracle Stock Performance

Shares of ORCL traded up $17.11 during trading hours on Tuesday, hitting $157.00. The company’s stock had a trading volume of 22,720,623 shares, compared to its average volume of 8,210,972. The business has a 50 day simple moving average of $138.65 and a two-hundred day simple moving average of $128.82. The company has a market cap of $432.67 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 2.56 and a beta of 1.01. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. Oracle has a 52-week low of $99.26 and a 52-week high of $160.19.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. On average, equities analysts expect that Oracle will post 5.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey Berg sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $143.12, for a total transaction of $3,220,200.00. Following the transaction, the director now directly owns 210,712 shares in the company, valued at approximately $30,157,101.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jeffrey Berg sold 22,500 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $143.12, for a total value of $3,220,200.00. Following the transaction, the director now owns 210,712 shares of the company’s stock, valued at approximately $30,157,101.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the completion of the transaction, the insider now owns 2,626,764 shares in the company, valued at $379,042,045.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,862,500 shares of company stock valued at $266,776,624 in the last 90 days. 42.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Oracle

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Werlinich Asset Management LLC raised its stake in Oracle by 3.1% in the second quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock valued at $326,000 after buying an additional 70 shares in the last quarter. RFP Financial Group LLC boosted its holdings in shares of Oracle by 2.7% in the 2nd quarter. RFP Financial Group LLC now owns 2,869 shares of the enterprise software provider’s stock valued at $405,000 after buying an additional 75 shares in the last quarter. Invst LLC boosted its stake in Oracle by 2.4% in the second quarter. Invst LLC now owns 3,372 shares of the enterprise software provider’s stock valued at $482,000 after acquiring an additional 79 shares in the last quarter. ERn Financial LLC lifted its holdings in shares of Oracle by 0.6% in the 2nd quarter. ERn Financial LLC now owns 12,911 shares of the enterprise software provider’s stock valued at $1,823,000 after purchasing an additional 80 shares during the last quarter. Finally, Key Financial Inc grew its stake in Oracle by 1.2% during the 2nd quarter. Key Financial Inc now owns 6,600 shares of the enterprise software provider’s stock worth $932,000 after buying an additional 80 shares during the last quarter. 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.