Oracle (NYSE:ORCL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Oracle (NYSE:ORCL) had its price objective raised by investment analysts at Piper Sandler from $185.00 to $210.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the enterprise software provider’s stock. Piper Sandler’s price target points to a potential upside of 10.21% from the stock’s previous close.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. KeyCorp lifted their target price on shares of Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. BMO Capital Markets increased their price target on Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. Finally, Bank of America boosted their price target on shares of Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average price target of $177.40.

Oracle Trading Down 0.6 %

NYSE ORCL opened at $190.54 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a fifty day simple moving average of $179.76 and a two-hundred day simple moving average of $154.67. The stock has a market cap of $528.00 billion, a P/E ratio of 49.11, a P/E/G ratio of 3.49 and a beta of 1.03. Oracle has a 12-month low of $99.26 and a 12-month high of $198.31.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.34 earnings per share. On average, analysts forecast that Oracle will post 5.06 earnings per share for the current year.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.20% of the stock is owned by insiders.

Institutional Trading of Oracle

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in shares of Oracle by 16,023.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock worth $351,890,000 after acquiring an additional 2,052,275 shares in the last quarter. Franklin Resources Inc. boosted its position in Oracle by 11.6% during the third quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock worth $3,370,640,000 after purchasing an additional 1,917,416 shares in the last quarter. State Street Corp grew its holdings 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 purchasing an additional 1,847,561 shares during the last quarter. Altshuler Shaham Ltd increased its position in shares of Oracle by 5,853.1% in the second quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after buying an additional 1,526,500 shares in the last quarter. Finally, Swedbank AB increased its holdings in Oracle by 123.7% during the 2nd quarter. Swedbank AB now owns 2,645,920 shares of the enterprise software provider’s stock valued at $373,604,000 after acquiring an additional 1,462,978 shares in the last quarter. 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.