Oracle (NYSE:ORCL) Given New $370.00 Price Target at Citigroup

Oracle (NYSE:ORCL) had its price objective lowered by analysts at Citigroup from $375.00 to $370.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the enterprise software provider’s stock. Citigroup’s target price would suggest a potential upside of 86.33% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Redburn Partners set a $175.00 target price on shares of Oracle in a report on Thursday, September 25th. Erste Group Bank downgraded Oracle from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. HSBC reissued a “buy” rating and set a $382.00 price objective on shares of Oracle in a research note on Wednesday, November 26th. Barclays set a $310.00 target price on Oracle in a report on Thursday. Finally, Rothschild & Co Redburn initiated coverage on Oracle in a report on Thursday, September 25th. They set a “sell” rating and a $175.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $304.27.

Oracle Price Performance

Shares of ORCL stock traded down $24.44 during mid-day trading on Thursday, hitting $198.57. 99,634,292 shares of the stock traded hands, compared to its average volume of 16,663,457. The company’s 50-day simple moving average is $249.32 and its 200-day simple moving average is $240.90. Oracle has a twelve month low of $118.86 and a twelve month high of $345.72. The firm has a market cap of $566.08 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.66. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.62 and a current ratio of 0.62.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 EPS for the quarter, topping the consensus estimate of $1.64 by $0.62. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The firm had revenue of $16.06 billion for the quarter, compared to analysts’ expectations of $16.19 billion. During the same period in the previous year, the business earned $1.47 earnings per share. Oracle’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities research analysts expect that Oracle will post 5 earnings per share for the current year.

Insider Activity at Oracle

In other news, CEO Clayton M. Magouyrk sold 40,000 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $276.64, for a total value of $11,065,600.00. Following the transaction, the chief executive officer directly owned 154,030 shares of the company’s stock, valued at approximately $42,610,859.20. This represents a 20.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Naomi O. Seligman sold 2,222 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $288.91, for a total value of $641,958.02. Following the sale, the director owned 29,225 shares of the company’s stock, valued at approximately $8,443,394.75. This represents a 7.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 204,254 shares of company stock worth $60,227,807. 40.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oracle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORCL. FSA Wealth Management LLC acquired a new stake in shares of Oracle in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC raised its holdings in Oracle by 130.0% during the third quarter. Darwin Wealth Management LLC now owns 115 shares of the enterprise software provider’s stock valued at $32,000 after buying an additional 65 shares in the last quarter. Mpwm Advisory Solutions LLC lifted its position in shares of Oracle by 76.9% in the third quarter. Mpwm Advisory Solutions LLC now owns 115 shares of the enterprise software provider’s stock worth $32,000 after buying an additional 50 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new stake in shares of Oracle in the third quarter worth about $35,000. Finally, Winnow Wealth LLC bought a new stake in shares of Oracle during the 2nd quarter worth about $28,000. Institutional investors own 42.44% of the company’s stock.

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.