DA Davidson Forecasts Strong Price Appreciation for Oracle (NYSE:ORCL) Stock

Oracle (NYSE:ORCL) had its price objective boosted by DA Davidson from $140.00 to $170.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the enterprise software provider’s stock. DA Davidson’s target price would suggest a potential downside of 21.13% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Oracle from $135.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America raised their price target on shares of Oracle from $156.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday. CIBC reiterated a “buy” rating on shares of Oracle in a report on Monday. Stephens started coverage on Oracle in a report on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 target price for the company. Finally, Citigroup lifted their price target on Oracle from $160.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.32.

Oracle Trading Up 7.8%

Shares of Oracle stock opened at $215.54 on Thursday. The firm has a 50-day simple moving average of $152.88 and a two-hundred day simple moving average of $160.62. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $216.60. The company has a market cap of $602.86 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the prior year, the company posted $1.63 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Oracle will post 5 earnings per share for the current fiscal year.

Insider Transactions at Oracle

In other news, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the transaction, the director now directly owns 58,090 shares in the company, valued at approximately $8,785,531.60. This represents a 23.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider now owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,366 shares of company stock worth $80,183,723. 42.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oracle

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cookson Peirce & Co. Inc. lifted its position in shares of Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after purchasing an additional 60 shares in the last quarter. Howard Bailey Securities LLC increased its stake in Oracle by 2.9% during the 4th quarter. Howard Bailey Securities LLC now owns 2,274 shares of the enterprise software provider’s stock worth $379,000 after buying an additional 64 shares during the period. New England Capital Financial Advisors LLC lifted its holdings in Oracle by 6.4% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,061 shares of the enterprise software provider’s stock worth $177,000 after buying an additional 64 shares in the last quarter. Cape ANN Savings Bank boosted its position in Oracle by 1.1% in the 4th quarter. Cape ANN Savings Bank now owns 5,820 shares of the enterprise software provider’s stock valued at $970,000 after buying an additional 65 shares during the period. Finally, Greenwood Gearhart Inc. grew its stake in shares of Oracle by 1.2% in the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider’s stock worth $955,000 after acquiring an additional 66 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

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.