Goldman Sachs Group Analysts Give Oracle (NYSE:ORCL) a $62.00 Price Target

Goldman Sachs Group set a $62.00 price target on Oracle (NYSE:ORCL) in a research report sent to investors on Friday, Borsen Zeitung reports. The firm currently has a buy rating on the enterprise software provider’s stock.

Other analysts have also issued reports about the company. Sanford C. Bernstein set a $66.00 target price on Oracle and gave the company a buy rating in a research note on Thursday, September 12th. Jefferies Financial Group set a $66.00 target price on Oracle and gave the company a buy rating in a research note on Thursday, September 12th. BMO Capital Markets restated a market perform rating and issued a $60.00 target price (up from $59.00) on shares of Oracle in a research note on Thursday, September 12th. UBS Group set a $57.00 target price on Oracle and gave the company a neutral rating in a research note on Thursday, September 12th. Finally, Cowen assumed coverage on Oracle in a research note on Friday, August 16th. They issued a buy rating and a $65.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $56.49.

Shares of NYSE:ORCL opened at $53.47 on Friday. Oracle has a twelve month low of $42.40 and a twelve month high of $60.50. The firm has a market cap of $175.50 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.49 and a current ratio of 2.25. The business has a fifty day moving average of $53.39 and a 200-day moving average of $54.49.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The company had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Oracle will post 3.47 EPS for the current fiscal year.

Oracle declared that its Board of Directors has initiated a share buyback program on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s dividend payout ratio (DPR) is currently 30.38%.

In other Oracle news, Director Renee Jo James sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.56, for a total transaction of $160,680.00. Following the transaction, the director now owns 32,886 shares in the company, valued at $1,761,374.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark V. Hurd sold 787,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total value of $40,792,500.00. Following the transaction, the chief executive officer now owns 1,038,755 shares in the company, valued at approximately $53,807,509. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,143 shares of company stock worth $52,356,709. Company insiders own 32.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Longview Partners Guernsey LTD lifted its holdings in shares of Oracle by 16.9% during the 2nd quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock valued at $1,267,227,000 after purchasing an additional 3,220,296 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Oracle by 1.7% during the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock valued at $1,115,989,000 after purchasing an additional 345,982 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Oracle by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock valued at $886,875,000 after purchasing an additional 562,921 shares in the last quarter. Polen Capital Management LLC lifted its holdings in shares of Oracle by 3.1% during the 2nd quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock valued at $822,884,000 after purchasing an additional 430,254 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Oracle by 5.0% during the 1st quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock valued at $702,965,000 after purchasing an additional 626,663 shares in the last quarter. Hedge funds and other institutional investors own 53.05% of the company’s stock.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Analyst Recommendations for Oracle (NYSE:ORCL)

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