Oracle (NYSE:ORCL) Given New $170.00 Price Target at DA Davidson

Oracle (NYSE:ORCL) had its target price hoisted by DA Davidson from $140.00 to $170.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the enterprise software provider’s stock.

A number of other research firms also recently weighed in on ORCL. Wall Street Zen downgraded shares of Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Stephens started coverage on shares of Oracle in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Oracle from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler reissued a “neutral” rating and set a $130.00 price objective on shares of Oracle in a report on Wednesday. Finally, Morgan Stanley reissued a “positive” rating on shares of Oracle in a report on Monday. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.30.

Oracle Stock Performance

NYSE:ORCL opened at $199.67 on Thursday. The firm has a market capitalization of $558.47 billion, a PE ratio of 48.82, a PEG ratio of 3.46 and a beta of 1.32. Oracle has a 1 year low of $118.86 and a 1 year high of $202.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The firm’s fifty day simple moving average is $151.06 and its 200 day simple moving average is $160.44.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. On average, sell-side analysts anticipate that Oracle will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.00%. Oracle’s dividend payout ratio (DPR) is presently 46.95%.

Insider Activity

In other news, Director Naomi O. Seligman sold 2,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total transaction of $291,620.00. Following the transaction, the director now directly owns 34,630 shares in the company, valued at approximately $5,049,400.30. This represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the transaction, the director now owns 58,090 shares in the company, valued at approximately $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,366 shares of company stock valued at $4,015,723 in the last 90 days. Insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

Institutional investors and hedge funds have recently modified their holdings of the business. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle in the 1st quarter worth $27,000. Inlight Wealth Management LLC bought a new stake in shares of Oracle in the 1st quarter worth $28,000. Iron Horse Wealth Management LLC increased its holdings in shares of Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of Oracle in the 4th quarter worth $30,000. Finally, Hurley Capital LLC bought a new stake in shares of Oracle in the 4th quarter worth $33,000. Institutional investors own 42.44% of the company’s stock.

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.