Oracle (NYSE:ORCL)‘s stock had its “buy” rating reiterated by stock analysts at Credit Suisse Group in a report issued on Sunday. They currently have a $62.00 price target on the enterprise software provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 22.26% from the company’s previous close.
The analysts wrote, “We note the Zenedge acquisition presentation sizes the ‘cloud security market’ at $4.1bn in 2017, and growing exponentially to $12.7bn by 2022. IaaSpirations: Following Oracle’s announced data center expansion on Monday (followed by comments suggesting no change in IaaS strategy or CapEx intentions); we view this as additional evidence of a complete and competitive IaaS offering. All three major public cloud platforms offer similar web security functionality. We note Zenedge offers AWS specific WAF and DDoS products today and it will be interesting to see if these remain. We believe the world should remain multi-cloud for the foreseeable future and Oracle’s autonomous cloud a highly relevant part of that, especially for large enterprises.””
A number of other research firms also recently issued reports on ORCL. Instinet assumed coverage on shares of Oracle in a research note on Wednesday, January 24th. They set a “buy” rating and a $51.12 price target on the stock. ValuEngine raised shares of Oracle from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Vetr raised shares of Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price target on the stock in a research note on Thursday, November 2nd. Nomura assumed coverage on shares of Oracle in a research note on Tuesday, January 23rd. They set a “buy” rating and a $64.00 price target on the stock. Finally, Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Oracle currently has a consensus rating of “Buy” and a consensus price target of $55.38.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. Oracle’s revenue for the quarter was up 6.2% on a year-over-year basis. analysts expect that Oracle will post 2.68 EPS for the current year.
Oracle declared that its board has approved a share buyback program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Oracle news, Director Naomi O. Seligman sold 45,000 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.34, for a total transaction of $2,310,300.00. Following the transaction, the director now directly owns 62,498 shares in the company, valued at approximately $3,208,647.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $49.66, for a total transaction of $186,225.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,956,250 shares of company stock worth $98,316,475. Company insiders own 29.00% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC grew its holdings in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors grew its holdings in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares in the last quarter. Tarbox Family Office Inc. grew its holdings in Oracle by 71.1% during the 4th quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock worth $110,000 after acquiring an additional 965 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Oracle by 81,200.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after acquiring an additional 2,436 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in Oracle during the 4th quarter worth about $126,000. Institutional investors own 58.36% of the company’s stock.
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Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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