JPMorgan Chase & Co. Issues Pessimistic Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $140.00 to $135.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the enterprise software provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 10.69% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Piper Sandler reduced their target price on Oracle from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday. Guggenheim restated a “buy” rating and set a $220.00 price objective on shares of Oracle in a research note on Wednesday, March 5th. Mizuho raised their price objective on Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. KeyCorp restated an “overweight” rating and set a $200.00 price objective on shares of Oracle in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on Oracle from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.85.

Oracle Stock Up 4.8 %

NYSE ORCL opened at $151.17 on Tuesday. The stock has a market cap of $422.81 billion, a PE ratio of 36.96, a P/E/G ratio of 3.46 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The business has a 50 day moving average price of $166.51 and a two-hundred day moving average price of $169.49. Oracle has a fifty-two week low of $112.78 and a fifty-two week high of $198.31.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.02). The business had revenue of $14.13 billion for the quarter, compared to analysts’ expectations of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. As a group, sell-side analysts predict that Oracle will post 5 EPS for the current fiscal year.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,565,931.52. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Oracle by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock valued at $26,231,127,000 after buying an additional 2,296,069 shares during the period. State Street Corp lifted its stake in Oracle by 2.7% in the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock valued at $12,003,241,000 after buying an additional 1,847,561 shares during the period. FMR LLC lifted its stake in Oracle by 0.4% in the fourth quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider’s stock valued at $6,332,803,000 after buying an additional 156,269 shares during the period. Geode Capital Management LLC lifted its stake in Oracle by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider’s stock valued at $5,954,961,000 after buying an additional 619,619 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Oracle by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider’s stock valued at $3,366,531,000 after buying an additional 1,722,037 shares during the period. Institutional investors and hedge funds 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.