Oracle (NYSE:ORCL) Hits New 12-Month High on Analyst Upgrade

Posted by on Jun 8th, 2023

Oracle Co. (NYSE:ORCL – Get Rating) shares reached a new 52-week high on Wednesday after Barclays raised their price target on the stock from $85.00 to $113.00. The stock traded as high as $108.37 and last traded at $108.24, with a volume of 893851 shares trading hands. The stock had previously closed at $107.10.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $104.00 target price on shares of Oracle in a research report on Friday, March 10th. JPMorgan Chase & Co. set a $93.00 price objective on Oracle and gave the stock an “overweight” rating in a report on Friday, March 10th. Stifel Nicolaus raised their target price on shares of Oracle from $75.00 to $84.00 in a report on Friday, March 10th. KeyCorp upped their price target on shares of Oracle from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Finally, Societe Generale cut shares of Oracle from a “buy” rating to a “hold” rating in a research note on Friday, March 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $97.38.

Insider Activity

In related news, CEO Safra Catz sold 1,837,101 shares of the stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $93.86, for a total value of $172,430,299.86. Following the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $104,991,045.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey Berg sold 45,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $93.65, for a total transaction of $4,214,250.00. Following the transaction, the director now directly owns 207,409 shares in the company, valued at $19,423,852.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Safra Catz sold 1,837,101 shares of the company’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $93.86, for a total value of $172,430,299.86. Following the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at approximately $104,991,045.12. The disclosure for this sale can be found here. Insiders own 43.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ronald Blue Trust Inc. increased its position in shares of Oracle by 4.3% during the fourth quarter. Ronald Blue Trust Inc. now owns 22,349 shares of the enterprise software provider’s stock worth $1,365,000 after purchasing an additional 921 shares in the last quarter. CoreCap Advisors LLC raised its stake in Oracle by 22.4% in the fourth quarter. CoreCap Advisors LLC now owns 8,566 shares of the enterprise software provider’s stock valued at $700,000 after buying an additional 1,565 shares during the last quarter. InTrack Investment Management Inc acquired a new stake in Oracle in the fourth quarter worth about $221,000. Centaurus Financial Inc. grew its stake in shares of Oracle by 11.5% during the third quarter. Centaurus Financial Inc. now owns 14,722 shares of the enterprise software provider’s stock worth $899,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Oracle by 1.7% during the third quarter. Baird Financial Group Inc. now owns 448,106 shares of the enterprise software provider’s stock valued at $27,366,000 after acquiring an additional 7,437 shares in the last quarter. 40.96% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Trading Down 1.7 %

The company’s 50-day moving average is $97.95 and its 200 day moving average is $89.80. The stock has a market capitalization of $284.15 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 2.96 and a beta of 1.00.

Oracle (NYSE:ORCL – Get Rating) last posted its quarterly earnings results on Thursday, March 9th. The enterprise software provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $12.42 billion. Oracle had a net margin of 17.46% and a negative return on equity of 262.40%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. Sell-side analysts forecast that Oracle Co. will post 4.01 EPS for the current fiscal year.

About Oracle

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.

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