TD Cowen Cuts Oracle (NYSE:ORCL) Price Target to $350.00

Oracle (NYSE:ORCL) had its target price lowered by research analysts at TD Cowen from $400.00 to $350.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the enterprise software provider’s stock. TD Cowen’s price objective would indicate a potential upside of 79.87% from the stock’s current price.

A number of other analysts have also recently commented on ORCL. Wells Fargo & Company started coverage on Oracle in a research note on Wednesday, December 3rd. They issued an “overweight” rating and a $280.00 price target for the company. Oppenheimer restated a “market perform” rating on shares of Oracle in a report on Thursday. Cowen reaffirmed a “buy” rating on shares of Oracle in a research report on Thursday, December 4th. KeyCorp dropped their price target on Oracle from $350.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Rothschild Redb raised Oracle to a “strong sell” rating in a research report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average target price of $303.86.

Oracle Price Performance

Shares of ORCL traded down $28.42 on Thursday, hitting $194.59. The company’s stock had a trading volume of 55,483,186 shares, compared to its average volume of 16,486,279. The company has a market capitalization of $554.74 billion, a PE ratio of 45.16, a PEG ratio of 2.51 and a beta of 1.66. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The company has a 50 day moving average price of $249.32 and a 200 day moving average price of $240.90. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.62.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, December 10th. The enterprise software provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.62. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The firm had revenue of $16.06 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s revenue was up 14.2% on a year-over-year basis. On average, research analysts anticipate that Oracle will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $280.62, for a total transaction of $1,403,100.00. Following the completion of the sale, the executive vice president directly owned 47,083 shares in the company, valued at $13,212,431.46. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stuart Levey sold 19,758 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $300.00, for a total value of $5,927,400.00. Following the transaction, the executive vice president owned 18,429 shares in the company, valued at approximately $5,528,700. This trade represents a 51.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 204,254 shares of company stock worth $60,227,807 in the last ninety days. Insiders own 40.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Kampmann Melissa S. grew its holdings in shares of Oracle by 0.3% during the 3rd quarter. Kampmann Melissa S. now owns 11,910 shares of the enterprise software provider’s stock worth $3,350,000 after purchasing an additional 35 shares in the last quarter. McLean Asset Management Corp lifted its holdings in shares of Oracle by 0.7% during the 3rd quarter. McLean Asset Management Corp now owns 5,319 shares of the enterprise software provider’s stock worth $1,551,000 after acquiring an additional 36 shares during the period. Mine & Arao Wealth Creation & Management LLC. boosted its position in shares of Oracle by 0.7% during the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 5,281 shares of the enterprise software provider’s stock worth $1,485,000 after acquiring an additional 36 shares in the last quarter. Voisard Asset Management Group Inc. raised its position in Oracle by 3.4% during the third quarter. Voisard Asset Management Group Inc. now owns 1,127 shares of the enterprise software provider’s stock valued at $317,000 after purchasing an additional 37 shares in the last quarter. Finally, Avion Wealth lifted its stake in Oracle by 16.6% during the third quarter. Avion Wealth now owns 260 shares of the enterprise software provider’s stock worth $73,000 after purchasing an additional 37 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Company Profile

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.