Oracle (NYSE:ORCL) Price Target Raised to $220.00 at Guggenheim

Oracle (NYSE:ORCL) had its price objective increased by equities research analysts at Guggenheim from $200.00 to $220.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the enterprise software provider’s stock. Guggenheim’s price target suggests a potential upside of 16.90% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada started coverage on shares of Oracle in a research report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price target on the stock. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Mizuho raised their price target on shares of Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. UBS Group restated a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. Finally, Bank of America raised their price target on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.52.

Oracle Stock Performance

NYSE ORCL opened at $188.19 on Thursday. The company has a market capitalization of $521.49 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 3.37 and a beta of 1.03. Oracle has a twelve month low of $99.26 and a twelve month high of $196.04. The stock has a fifty day simple moving average of $178.54 and a 200 day simple moving average of $153.09. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Oracle will post 5 EPS for the current year.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 42.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Oracle by 2.7% in the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock worth $12,003,241,000 after acquiring an additional 1,847,561 shares during the period. Geode Capital Management LLC increased its stake in shares of Oracle by 2.6% in the third quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider’s stock worth $5,977,015,000 after acquiring an additional 885,041 shares during the period. Franklin Resources Inc. increased its stake in shares of Oracle by 11.6% in 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 acquiring an additional 1,917,416 shares during the period. Fisher Asset Management LLC increased its stake in shares of Oracle by 1.8% in the third quarter. Fisher Asset Management LLC now owns 17,898,029 shares of the enterprise software provider’s stock worth $3,049,824,000 after acquiring an additional 310,709 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Oracle by 0.4% in the third quarter. Janus Henderson Group PLC now owns 14,608,951 shares of the enterprise software provider’s stock worth $2,489,345,000 after acquiring an additional 54,868 shares during the period. 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.