Zacks Investment Research upgraded shares of Oracle Corporation (NYSE:ORCL) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $50.00 price objective on the enterprise software provider’s stock.
According to Zacks, “Oracle has outperformed the S&P 500 on a year-to-date basis. The company's offerings in SaaS and PaaS have gained significant momentum in the past few quarters, which improves competitive position against salesforce.com and Workday. Further, the introduction of Gen 2 IaaS data centers is expected to improve Oracle’s competitive prowess against Amazon. We believe the company’s growing cloud market share will continue to drive top-line growth for the foreseeable future. Meanwhile, estimates have been going up ahead of the company's Q4 earnings release. However, the transition from on-premise licensing to cloud-based subscription business model will take some more time to complete, which will impact upcoming results. Moreover, higher investments on IaaS will affect gross margin expansion. Further, a strong U.S. dollar remains a headwind.”
Several other equities analysts also recently issued reports on ORCL. Cowen and Company reissued an outperform rating and set a $46.00 price objective on shares of Oracle Corporation in a research note on Thursday, February 23rd. Vetr raised shares of Oracle Corporation from a hold rating to a buy rating and set a $47.63 price objective on the stock in a research note on Thursday, February 23rd. Canaccord Genuity reissued a buy rating and set a $45.00 price objective on shares of Oracle Corporation in a research note on Friday, February 24th. TheStreet raised shares of Oracle Corporation from a c+ rating to a b rating in a research note on Tuesday, February 28th. Finally, Jefferies Group LLC set a $51.00 price objective on shares of Oracle Corporation and gave the company a buy rating in a research note on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Oracle Corporation has an average rating of Buy and a consensus price target of $46.45.
Shares of Oracle Corporation (ORCL) opened at 45.73 on Thursday. The firm has a market cap of $188.16 billion, a P/E ratio of 21.63 and a beta of 1.13. Oracle Corporation has a one year low of $37.62 and a one year high of $46.99. The stock’s 50 day moving average is $45.16 and its 200-day moving average is $42.62. Oracle Corporation also was the target of some unusual options trading activity on Monday. Investors purchased 32,198 call options on the stock. This is an increase of approximately 166% compared to the average volume of 12,114 call options.
In related news, CEO Safra Catz sold 109,572 shares of Oracle Corporation stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $45.14, for a total value of $4,946,080.08. Following the sale, the chief executive officer now directly owns 571,432 shares in the company, valued at approximately $25,794,440.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $44.00, for a total transaction of $165,000.00. Following the completion of the sale, the director now owns 8,281 shares in the company, valued at $364,364. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,703,091 shares of company stock worth $121,525,212. 29.00% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in shares of Oracle Corporation by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 200 shares in the last quarter. Gradient Investments LLC increased its stake in shares of Oracle Corporation by 79.9% in the first quarter. Gradient Investments LLC now owns 2,548 shares of the enterprise software provider’s stock valued at $114,000 after buying an additional 1,132 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Oracle Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares in the last quarter. Finally, Heritage Trust Co purchased a new stake in shares of Oracle Corporation during the first quarter valued at $130,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.
Oracle Corporation 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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