Oracle (ORCL) Price Target Cut to $49.00

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Oracle (NYSE:ORCL) had its target price reduced by research analysts at Citigroup from $51.00 to $49.00 in a research note issued on Tuesday, September 18th, Stock Target Advisor reports. The firm presently has a “neutral” rating on the enterprise software provider’s stock. Citigroup’s price objective points to a potential upside of 3.42% from the stock’s previous close.

ORCL has been the subject of a number of other research reports. Zacks Investment Research raised Oracle from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Barclays raised their target price on Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Credit Suisse Group set a $60.00 target price on Oracle and gave the company a “buy” rating in a report on Monday, June 18th. KeyCorp reissued a “hold” rating on shares of Oracle in a report on Friday, June 15th. Finally, ValuEngine raised Oracle from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Sixteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $53.92.

Shares of NYSE ORCL opened at $47.38 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. Oracle has a 1-year low of $42.57 and a 1-year high of $53.48. The firm has a market cap of $213.44 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.72 and a beta of 1.14.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts predict that Oracle will post 3.07 earnings per share for the current fiscal year.

Oracle announced that its board has approved a share repurchase program on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In related news, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the sale, the executive vice president now owns 109,615 shares in the company, valued at approximately $5,582,691.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $49.42, for a total value of $185,325.00. Following the sale, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,382,227.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,196 shares of company stock valued at $9,235,790. 32.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of ORCL. Rainier Group Investment Advisory LLC acquired a new stake in Oracle in the 1st quarter worth about $106,000. ELM Advisors LLC acquired a new stake in Oracle in the 3rd quarter worth about $122,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Oracle in the 2nd quarter worth about $126,000. Financial Gravity Wealth Inc. acquired a new stake in Oracle in the 1st quarter worth about $130,000. Finally, Clearwater Capital Advisors LLC acquired a new stake in Oracle in the 1st quarter worth about $134,000. Hedge funds and other institutional investors own 53.43% 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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