Oracle (NYSE:ORCL) Given New $98.00 Price Target at Cowen

Oracle (NYSE:ORCLGet Rating) had its price target cut by research analysts at Cowen from $107.00 to $98.00 in a note issued to investors on Thursday, The Fly reports. Cowen’s target price points to a potential upside of 40.78% from the company’s current price.

A number of other brokerages also recently weighed in on ORCL. BMO Capital Markets cut their price target on shares of Oracle from $115.00 to $92.00 and set a “market perform” rating on the stock in a research report on Friday, March 11th. Societe Generale upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Friday, March 11th. Bank of America dropped their target price on shares of Oracle from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, March 11th. StockNews.com initiated coverage on shares of Oracle in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Oracle in a report on Wednesday, March 9th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.48.

ORCL opened at $69.61 on Thursday. The firm’s 50-day simple moving average is $73.94 and its 200-day simple moving average is $80.55. Oracle has a twelve month low of $63.76 and a twelve month high of $106.34. The firm has a market cap of $185.73 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.89 and a beta of 0.87.

Oracle (NYSE:ORCLGet Rating) last issued its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.17. Oracle had a net margin of 18.08% and a negative return on equity of 383.80%. The firm had revenue of $11.84 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Oracle will post 3.99 EPS for the current fiscal year.

In related news, Director Renee Jo James sold 6,000 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $84.11, for a total value of $504,660.00. Following the completion of the transaction, the director now owns 41,886 shares of the company’s stock, valued at $3,523,031.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 43.40% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Level Financial Advisors Inc. bought a new stake in shares of Oracle during the fourth quarter worth about $28,000. Evolution Advisers Inc. bought a new stake in shares of Oracle during the fourth quarter worth about $33,000. Bivin & Associates Inc. bought a new stake in shares of Oracle during the fourth quarter worth about $35,000. First Community Trust NA bought a new stake in shares of Oracle during the fourth quarter worth about $35,000. Finally, Ulland Investment Advisors LLC grew its holdings in shares of Oracle by 469.0% during the first quarter. Ulland Investment Advisors LLC now owns 404 shares of the enterprise software provider’s stock worth $33,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 42.33% of the company’s stock.

About Oracle (Get Rating)

Oracle Corporation provides 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 Fusion cloud advertising and customer experience, and NetSuite applications suite.

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