Credit Suisse Group reissued their buy rating on shares of Oracle (NYSE:ORCL) in a research note published on Sunday, February 18th. They currently have a $62.00 target price on the enterprise software provider’s stock.
“We note the Zenedge acquisition presentation sizes the ‘cloud security market’ at $4.1bn in 2017, and growing exponentially to $12.7bn by 2022. IaaSpirations: Following Oracle’s announced data center expansion on Monday (followed by comments suggesting no change in IaaS strategy or CapEx intentions); we view this as additional evidence of a complete and competitive IaaS offering. All three major public cloud platforms offer similar web security functionality. We note Zenedge offers AWS specific WAF and DDoS products today and it will be interesting to see if these remain. We believe the world should remain multi-cloud for the foreseeable future and Oracle’s autonomous cloud a highly relevant part of that, especially for large enterprises.”,” the firm’s analyst wrote.
Several other equities analysts have also recently commented on ORCL. Stifel Nicolaus restated a buy rating on shares of Oracle in a research report on Sunday, October 22nd. Zacks Investment Research cut shares of Oracle from a hold rating to a sell rating in a research report on Monday, October 23rd. Vetr cut shares of Oracle from a buy rating to a hold rating and set a $51.74 target price for the company. in a research report on Tuesday, October 24th. BidaskClub upgraded shares of Oracle from a buy rating to a strong-buy rating in a research report on Friday, October 27th. Finally, UBS Group restated a neutral rating and issued a $55.00 target price (down from $57.00) on shares of Oracle in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have given a buy rating to the company. Oracle currently has an average rating of Buy and an average price target of $55.76.
Oracle (ORCL) traded down $0.26 during midday trading on Friday, reaching $52.32. 10,885,538 shares of the company’s stock were exchanged, compared to its average volume of 15,390,000. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The company has a market cap of $216,580.00, a P/E ratio of 22.45, a P/E/G ratio of 2.02 and a beta of 1.05. Oracle has a 52-week low of $42.40 and a 52-week high of $53.48.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. research analysts forecast that Oracle will post 2.68 earnings per share for the current fiscal year.
Oracle declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.40, for a total value of $181,500.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $877,250. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,956,250 shares of company stock valued at $98,316,475. Corporate insiders own 29.00% of the company’s stock.
Several large investors have recently bought and sold shares of ORCL. Acrospire Investment Management LLC boosted its stake in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors lifted its stake in shares of Oracle by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares in the last quarter. Tarbox Family Office Inc. lifted its stake in shares of Oracle by 71.1% in the fourth quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock valued at $110,000 after buying an additional 965 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Oracle by 81,200.0% in the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after buying an additional 2,436 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of Oracle in the fourth quarter valued at $126,000. 58.03% of the stock is currently owned by institutional investors.
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Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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