Oracle (NYSE:ORCL) Price Target Cut to $230.00 by Analysts at JPMorgan Chase & Co.

Oracle (NYSE:ORCL) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $270.00 to $230.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the enterprise software provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.25% from the stock’s previous close.

ORCL has been the subject of several other research reports. Wolfe Research increased their price objective on shares of Oracle from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Piper Sandler lowered their target price on Oracle from $380.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday. Cantor Fitzgerald cut their price target on Oracle from $400.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday. Robert W. Baird dropped their target price on Oracle from $365.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. Finally, Royal Bank Of Canada decreased their price objective on Oracle from $310.00 to $250.00 and set a “sector perform” rating for the company in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $304.41.

Oracle Trading Down 11.3%

Shares of ORCL traded down $25.16 during trading hours on Thursday, reaching $197.85. The stock had a trading volume of 71,632,502 shares, compared to its average volume of 16,546,838. The firm has a 50-day moving average of $249.32 and a 200 day moving average of $240.90. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. The company has a market cap of $564.02 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.51 and a beta of 1.66. Oracle has a 52 week low of $118.86 and a 52 week high of $345.72.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.62. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The company had revenue of $16.06 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same quarter last year, the firm posted $1.47 earnings per share. Oracle’s revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts expect that Oracle will post 5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Stuart Levey sold 19,758 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $300.00, for a total transaction of $5,927,400.00. Following the completion of the sale, the executive vice president owned 18,429 shares in the company, valued at approximately $5,528,700. This trade represents a 51.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael D. Sicilia sold 33,845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $321.16, for a total transaction of $10,869,660.20. Following the sale, the insider owned 132,656 shares of the company’s stock, valued at approximately $42,603,800.96. The trade was a 20.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 204,254 shares of company stock valued at $60,227,807. 40.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Winnow Wealth LLC purchased a new position in shares of Oracle during the 2nd quarter valued at $28,000. FSA Wealth Management LLC bought a new stake in Oracle during the third quarter valued at $28,000. Kilter Group LLC purchased a new position in Oracle during the second quarter worth about $30,000. Darwin Wealth Management LLC increased its stake in Oracle by 130.0% in the 3rd quarter. Darwin Wealth Management LLC now owns 115 shares of the enterprise software provider’s stock worth $32,000 after acquiring an additional 65 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC raised its holdings in shares of Oracle by 76.9% in the 3rd quarter. Mpwm Advisory Solutions LLC now owns 115 shares of the enterprise software provider’s stock valued at $32,000 after acquiring an additional 50 shares in the last quarter. 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.