Goldman Sachs Group Boosts Oracle (NYSE:ORCL) Price Target to $61.00

Oracle (NYSE:ORCL) had its target price raised by Goldman Sachs Group from $58.00 to $61.00 in a research note issued to investors on Wednesday, The Fly reports. Goldman Sachs Group currently has a conviction-buy rating on the enterprise software provider’s stock. The analysts noted that the move was a valuation call.

Other analysts have also issued reports about the company. ValuEngine lowered Oracle from a hold rating to a sell rating in a research report on Thursday, June 4th. UBS Group reaffirmed a neutral rating and set a $52.00 target price on shares of Oracle in a research report on Wednesday, June 17th. Cleveland Research raised Oracle from a neutral rating to a buy rating in a research report on Monday, March 9th. Stifel Nicolaus lifted their target price on Oracle from $44.00 to $48.00 and gave the stock a hold rating in a research report on Wednesday, June 17th. Finally, Zacks Investment Research raised Oracle from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Oracle has a consensus rating of Hold and a consensus price target of $55.16.

NYSE:ORCL opened at $54.18 on Wednesday. The business’s 50-day moving average is $53.30 and its two-hundred day moving average is $52.56. The company has a debt-to-equity ratio of 5.44, a current ratio of 3.03 and a quick ratio of 2.12. Oracle has a 12 month low of $39.71 and a 12 month high of $60.50. The firm has a market capitalization of $167.34 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Tuesday, June 16th. The enterprise software provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. Oracle had a return on equity of 72.76% and a net margin of 25.94%. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.72 billion. During the same period last year, the company posted $1.16 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Oracle will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.77%. Oracle’s dividend payout ratio is presently 27.75%.

Oracle declared that its Board of Directors has initiated a stock buyback program on Thursday, March 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the enterprise software provider to repurchase up to 9.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, insider Edward Screven sold 700,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $54.14, for a total transaction of $37,898,000.00. Following the completion of the transaction, the insider now directly owns 3,001,419 shares in the company, valued at $162,496,824.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $51.73, for a total value of $51,730,000.00. Following the transaction, the chief executive officer now owns 2,368,592 shares of the company’s stock, valued at $122,527,264.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,900,000 shares of company stock valued at $264,854,000. Insiders own 36.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. First National Bank of South Miami raised its holdings in Oracle by 104.6% during the fourth quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Oracle during the 4th quarter valued at $26,000. Solstein Capital LLC acquired a new stake in Oracle during the 4th quarter valued at $33,000. Wealth Alliance acquired a new stake in Oracle during the 4th quarter valued at $64,000. Finally, Balentine LLC acquired a new stake in Oracle during the 1st quarter valued at $31,000. 48.14% of the stock is currently owned by hedge funds and other institutional investors.

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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