Oracle Corp. (NASDAQ:ORCL)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday, AnalystRatings.NET reports. They currently have a $37.00 target price on the stock. Zacks‘ price objective points to a potential upside of 4.85% from the company’s current price.
Zacks‘ analyst wrote, “Oracle reported a mixed first quarter. Although earnings beat the Zacks Consensus Estimate, revenues missed the mark. Management provided cautious second quarter guidance. We believe that sales execution will be of utmost importance over the next couple of quarters as proper execution will result in strong conversion and increase contract win rates. We believe that Oracle needs to improve top-line growth in order to boost investor confidence in the near term. The speedy adoption of engineered systems and cloud suites will drive incremental top-line growth in the near term. However, hardware growth continues to remain elusive. Moreover, soft demand environment coupled with stiff competition remain major concerns. Thus, we maintain our Neutral recommendation and set a price target of $37.00. “
In other Oracle Corp. news, Director Hector Garcia-Molina unloaded 2,500 shares of Oracle Corp. stock on the open market in a transaction dated Friday, November 15th. The stock was sold at an average price of $34.42, for a total transaction of $86,050.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at approximately $172,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Standpoint Research downgraded shares of Oracle Corp. from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at TheStreet reiterated a “positive” rating on shares of Oracle Corp. in a research note to investors on Monday. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Oracle Corp. in a research note to investors on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.65.
Shares of Oracle Corp. (NASDAQ:ORCL) remained flat at $35.29 during trading on Friday. 11,834,727 shares of the company’s stock traded hands. Oracle Corp. has a 1-year low of $29.86 and a 1-year high of $36.43. The stock’s 50-day moving average is $33.82 and its 200-day moving average is $33.06. The company has a market cap of $160.8 billion and a price-to-earnings ratio of 15.17. Oracle Corp. also saw unusually large options trading on Tuesday. Stock traders acquired 32,797 put options on the stock. This is an increase of approximately 270% compared to the average daily volume of 8,872 put options.
Oracle Corp. (NASDAQ:ORCL) last released its earnings data on Wednesday, September 18th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the company posted $0.53 earnings per share. Oracle Corp.’s revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Oracle Corp. will post $2.91 earnings per share for the current fiscal year.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company’s software, hardware systems, and services businesses develops, manufactures, markets, hosts and supports database and middleware software, applications software, and hardware systems, with the latter consisting primarily of computer server and storage products.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.