Piper Sandler Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its price objective hoisted by research analysts at Piper Sandler from $270.00 to $330.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the enterprise software provider’s stock. Piper Sandler’s target price would suggest a potential upside of 36.55% from the stock’s previous close.

A number of other research firms also recently weighed in on ORCL. JPMorgan Chase & Co. lifted their price objective on Oracle from $185.00 to $210.00 and gave the company a “neutral” rating in a report on Monday. BMO Capital Markets lifted their price objective on Oracle from $245.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup lifted their price objective on Oracle from $196.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday. Oppenheimer reiterated an “outperform” rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Oracle in a research note on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.52.

Oracle Trading Up 1.3%

Shares of ORCL opened at $241.67 on Wednesday. Oracle has a 12-month low of $118.86 and a 12-month high of $260.87. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The firm has a market capitalization of $678.81 billion, a price-to-earnings ratio of 55.68, a P/E/G ratio of 3.56 and a beta of 1.46. The stock’s 50-day moving average price is $240.23 and its 200 day moving average price is $187.60.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 earnings per share. As a group, research analysts predict that Oracle will post 5 earnings per share for the current year.

Insider Activity

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares of the company’s stock, valued at $13,000,580.20. The trade was a 19.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rona Alison Fairhead purchased 480 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was purchased at an average cost of $233.87 per share, with a total value of $112,257.60. Following the acquisition, the director directly owned 22,110 shares in the company, valued at $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 444,183 shares of company stock worth $86,521,198. Corporate insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORCL. Brighton Jones LLC boosted its stake in Oracle by 189.3% in the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock worth $25,593,000 after purchasing an additional 100,494 shares during the period. Revolve Wealth Partners LLC lifted its position in Oracle by 8.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after buying an additional 404 shares in the last quarter. Lighthouse Investment Partners LLC lifted its position in Oracle by 22.8% during the 4th quarter. Lighthouse Investment Partners LLC now owns 14,740 shares of the enterprise software provider’s stock worth $2,456,000 after buying an additional 2,740 shares in the last quarter. Northwest Quadrant Wealth Management LLC lifted its position in Oracle by 10.6% during the 4th quarter. Northwest Quadrant Wealth Management LLC now owns 1,867 shares of the enterprise software provider’s stock worth $311,000 after buying an additional 179 shares in the last quarter. Finally, Northeast Financial Consultants Inc lifted its position in Oracle by 9.6% during the 4th quarter. Northeast Financial Consultants Inc now owns 5,355 shares of the enterprise software provider’s stock worth $892,000 after buying an additional 467 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

About Oracle

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.