KeyCorp Reiterates “Overweight” Rating for Oracle (NYSE:ORCL)

Oracle (NYSE:ORCL)‘s stock had its “overweight” rating restated by KeyCorp in a research report issued on Tuesday,Benzinga reports. They currently have a $200.00 target price on the enterprise software provider’s stock. KeyCorp’s price objective indicates a potential upside of 32.30% from the company’s current price.

A number of other research analysts have also recently issued reports on ORCL. Piper Sandler cut their price objective on Oracle from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday. Cantor Fitzgerald cut their price objective on Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday. BMO Capital Markets cut their price objective on Oracle from $205.00 to $175.00 and set a “market perform” rating for the company in a report on Tuesday. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their price target on Oracle from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.85.

Oracle Trading Up 4.8 %

Shares of Oracle stock opened at $151.17 on Tuesday. The company’s fifty day simple moving average is $166.51 and its 200-day simple moving average is $169.49. The company has a market cap of $422.81 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.46 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle has a 1 year low of $112.78 and a 1 year high of $198.31.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $14.13 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Oracle will post 5 EPS for the current year.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

Several institutional investors have recently modified their holdings of ORCL. Norges Bank acquired a new position in shares of Oracle in the 4th quarter valued at approximately $2,216,314,000. Raymond James Financial Inc. acquired a new position in shares of Oracle in the 4th quarter valued at approximately $930,095,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Oracle by 20.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider’s stock valued at $2,303,858,000 after purchasing an additional 2,350,448 shares during the period. Vanguard Group Inc. grew its position in shares of Oracle by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock valued at $26,231,127,000 after purchasing an additional 2,296,069 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Oracle by 268.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,077,947 shares of the enterprise software provider’s stock valued at $512,909,000 after purchasing an additional 2,242,520 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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.