Oracle’s (ORCL) Overweight Rating Reaffirmed at Piper Sandler

Posted by Defense World Staff on Sep 13th, 2023

Piper Sandler reissued their overweight rating on shares of Oracle (NYSE:ORCL – Free Report) in a research report released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $130.00 target price on the enterprise software provider’s stock.

Several other analysts also recently commented on the stock. VNET Group reiterated a maintains rating on shares of Oracle in a report on Tuesday, June 13th. Monness Crespi & Hardt downgraded shares of Oracle from a buy rating to a neutral rating in a report on Tuesday. KeyCorp raised their price objective on shares of Oracle from $105.00 to $120.00 in a report on Friday, June 9th. Wolfe Research raised their price objective on shares of Oracle from $130.00 to $140.00 in a report on Tuesday, June 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Oracle from $120.00 to $135.00 in a report on Tuesday, June 13th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Oracle presently has an average rating of Moderate Buy and an average price target of $122.48.

Check Out Our Latest Analysis on ORCL

Oracle Stock Down 13.5 %

Oracle stock opened at $109.61 on Tuesday. Oracle has a 1-year low of $60.78 and a 1-year high of $127.54. The firm has a market capitalization of $297.51 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The firm’s fifty day moving average price is $117.41 and its two-hundred day moving average price is $105.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 55.54.

Oracle (NYSE:ORCL – Get Free Report) last announced its earnings results on Monday, September 11th. The enterprise software provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.48 billion. Oracle had a net margin of 17.02% and a negative return on equity of 470.73%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, equities research analysts predict that Oracle will post 4.5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Thursday, October 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.46%. Oracle’s dividend payout ratio (DPR) is currently 52.29%.

Insider Activity

In other Oracle news, insider Edward Screven sold 354,837 shares of Oracle stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $123.39, for a total transaction of $43,783,337.43. Following the completion of the sale, the insider now directly owns 2,543,033 shares in the company, valued at $313,784,841.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Oracle news, insider Edward Screven sold 354,837 shares of Oracle stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $123.39, for a total transaction of $43,783,337.43. Following the completion of the sale, the insider now directly owns 2,543,033 shares in the company, valued at $313,784,841.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maria Smith sold 3,680 shares of Oracle stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $115.00, for a total transaction of $423,200.00. Following the sale, the executive vice president now owns 16,600 shares of the company’s stock, valued at $1,909,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,175,443 shares of company stock worth $510,658,596. 43.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Marquette Asset Management LLC raised its stake in shares of Oracle by 445.5% during the second quarter. Marquette Asset Management LLC now owns 240 shares of the enterprise software provider’s stock worth $29,000 after acquiring an additional 196 shares in the last quarter. NewSquare Capital LLC increased its stake in shares of Oracle by 843.3% in the first quarter. NewSquare Capital LLC now owns 283 shares of the enterprise software provider’s stock worth $26,000 after buying an additional 253 shares during the period. Clear Investment Research LLC purchased a new position in shares of Oracle in the fourth quarter worth $25,000. SJS Investment Consulting Inc. increased its stake in shares of Oracle by 48.1% in the second quarter. SJS Investment Consulting Inc. now owns 308 shares of the enterprise software provider’s stock worth $37,000 after buying an additional 100 shares during the period. Finally, Quintet Private Bank Europe S.A. purchased a new position in shares of Oracle in the first quarter worth $30,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Company Profile

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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.