Oracle (NYSE:ORCL) Given a $240.00 Price Target at JMP Securities

Oracle (NYSE:ORCL) has been given a $240.00 price objective by analysts at JMP Securities in a report issued on Thursday, Marketbeat reports. The firm currently has a “market outperform” rating on the enterprise software provider’s stock. JMP Securities’ target price indicates a potential upside of 12.70% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ORCL. Stifel Nicolaus upped their price target on Oracle from $150.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday. Evercore ISI dropped their price target on Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Morgan Stanley restated a “positive” rating on shares of Oracle in a research report on Monday, June 9th. Mizuho lowered their price objective on Oracle from $210.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Monness Crespi & Hardt upgraded Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Eleven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.32.

Oracle Stock Performance

Shares of NYSE:ORCL traded down $2.26 during trading on Thursday, hitting $212.96. 11,504,493 shares of the stock traded hands, compared to its average volume of 9,731,204. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market cap of $595.64 billion, a price-to-earnings ratio of 52.04, a P/E/G ratio of 3.46 and a beta of 1.32. The company has a fifty day moving average price of $152.88 and a two-hundred day moving average price of $160.31. Oracle has a 52-week low of $118.86 and a 52-week high of $216.98.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Oracle’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Oracle will post 5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Naomi O. Seligman sold 2,866 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director now directly owns 31,764 shares of the company’s stock, valued at approximately $4,749,670.92. This represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the sale, the insider now directly owns 1,097,576 shares of the company’s stock, valued at $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,366 shares of company stock valued at $80,183,723 in the last ninety days. Insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cookson Peirce & Co. Inc. raised its stake in Oracle by 4.4% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock valued at $237,000 after acquiring an additional 60 shares during the last quarter. Howard Bailey Securities LLC increased its position in Oracle by 2.9% during the 4th quarter. Howard Bailey Securities LLC now owns 2,274 shares of the enterprise software provider’s stock worth $379,000 after purchasing an additional 64 shares during the period. New England Capital Financial Advisors LLC increased its position in Oracle by 6.4% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,061 shares of the enterprise software provider’s stock worth $177,000 after purchasing an additional 64 shares during the period. Cape ANN Savings Bank increased its position in Oracle by 1.1% during the 4th quarter. Cape ANN Savings Bank now owns 5,820 shares of the enterprise software provider’s stock worth $970,000 after purchasing an additional 65 shares during the period. Finally, Greenwood Gearhart Inc. increased its position in Oracle by 1.2% during the 4th quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider’s stock worth $955,000 after purchasing an additional 66 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

About Oracle

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.