KeyCorp reaffirmed their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a research note published on Tuesday, July 18th. They currently have a $61.00 price target on the enterprise software provider’s stock.
“We focused on Oracle’s cloud transition, and how moving to the cloud can generate 3x the revenue per customer, as well as Oracle’s opportunity in the SaaS market. Oracle’s opportunity in cloud and SaaS, and valuation, have been the main area of investor push-back since our upgrade. As Oracle continues to execute on its cloud transition, we believe multiple expansion can continue. Key Investment Points Oracle on average could see 3x the revenue from a customer who moves its workload from on-premise to the cloud. Transitions at Autodesk and Adobe, showed lifetime customer value driven from the cloud is much higher than from on-premise. As Oracle moves its customers to the cloud, it should gain a similar benefit. For the customer, migrating to the cloud can lead to significant overall cost savings, based on labor and hardware costs needed to manage on-premise solutions.”,” the firm’s analyst wrote.
A number of other analysts have also commented on ORCL. Bank of America Corporation dropped their price target on Oracle Corporation from $62.00 to $54.00 and set a buy rating for the company in a research note on Friday, June 30th. Zacks Investment Research raised Oracle Corporation from a hold rating to a buy rating and set a $51.00 price target for the company in a research note on Tuesday, May 16th. Societe Generale lowered Oracle Corporation from a buy rating to a hold rating and dropped their price target for the stock from $51.00 to $50.00 in a research note on Thursday, May 11th. Argus raised Oracle Corporation from a hold rating to a buy rating and set a $61.00 price objective for the company in a research report on Friday, June 23rd. Finally, OTR Global raised Oracle Corporation to a positive rating in a research report on Thursday, June 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $50.70.
Oracle Corporation (NYSE ORCL) traded up 0.232% on Tuesday, hitting $49.755. 792,221 shares of the stock traded hands. The stock has a market cap of $205.82 billion, a price-to-earnings ratio of 22.514 and a beta of 1.06. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $51.85. The firm’s 50 day moving average is $49.35 and its 200 day moving average is $44.95.
Oracle Corporation (NYSE:ORCL) last issued its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $10.94 billion for the quarter, compared to analysts’ expectations of $10.45 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that Oracle Corporation will post $2.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, July 17th. Oracle Corporation’s payout ratio is currently 34.55%.
In other Oracle Corporation news, Director Bruce R. Chizen sold 206,250 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the completion of the sale, the director now owns 63,985 shares of the company’s stock, valued at $3,183,253.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $44.57, for a total value of $167,137.50. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $807,831.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,817,500 shares of company stock worth $91,547,388. 29.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Burt Wealth Advisors increased its stake in shares of Oracle Corporation by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the period. Baystate Wealth Management LLC increased its stake in Oracle Corporation by 9.2% in the second quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after buying an additional 206 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in 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 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. Finally, Gradient Investments LLC boosted its position in 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 during the last quarter. 58.77% of the stock is owned by institutional investors.
About Oracle Corporation
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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