Mizuho Forecasts Strong Price Appreciation for Oracle (NYSE:ORCL) Stock

Oracle (NYSE:ORCL) had its price objective boosted by investment analysts at Mizuho from $245.00 to $300.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the enterprise software provider’s stock. Mizuho’s price target suggests a potential upside of 20.73% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ORCL. Citigroup upgraded shares of Oracle from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 18th. KeyCorp raised their target price on shares of Oracle from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, June 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Oracle in a research note on Wednesday, June 18th. BMO Capital Markets raised their target price on shares of Oracle from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, JMP Securities upped their target price on shares of Oracle from $240.00 to $315.00 and gave the company a “market outperform” rating in a research report on Friday, July 18th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.04.

Oracle Trading Up 1.4%

Shares of ORCL stock opened at $248.48 on Friday. Oracle has a 1 year low of $118.86 and a 1 year high of $260.87. The firm has a market capitalization of $697.94 billion, a P/E ratio of 57.25, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The firm’s fifty day simple moving average is $230.54 and its 200 day simple moving average is $180.52.

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, beating analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, sell-side analysts predict that Oracle will post 5 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael D. Sicilia sold 15,880 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the transaction, the insider owned 99,212 shares of the company’s stock, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rona Alison Fairhead purchased 480 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was bought at an average cost of $233.87 per share, with a total value of $112,257.60. Following the purchase, the director owned 22,110 shares of the company’s stock, valued at $5,170,865.70. This represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 444,183 shares of company stock valued at $86,521,198 in the last 90 days. 42.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in the first quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new position in shares of Oracle in the first quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new position in shares of Oracle in the second quarter valued at approximately $28,000. Iron Horse Wealth Management LLC increased its stake in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after buying an additional 151 shares during the period. Finally, Sunbeam Capital Management LLC acquired a new position in shares of Oracle in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

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.