Oracle (NYSE:ORCL) Receives Buy Rating from Goldman Sachs Group

Goldman Sachs Group reiterated their buy rating on shares of Oracle (NYSE:ORCL) in a report released on Monday, Borsen Zeitung reports. Goldman Sachs Group currently has a $62.00 target price on the enterprise software provider’s stock.

Other analysts have also recently issued reports about the stock. Barclays reaffirmed a neutral rating and issued a $61.00 price target on shares of Oracle in a report on Friday, November 1st. BMO Capital Markets upped their target price on shares of Oracle from $60.00 to $62.00 and gave the company a market perform rating in a research note on Friday, September 27th. They noted that the move was a valuation call. ValuEngine lowered shares of Oracle from a hold rating to a sell rating in a research note on Tuesday, December 3rd. Credit Suisse Group set a $62.00 price target on shares of Oracle and gave the stock a buy rating in a research report on Tuesday, September 24th. Finally, Wedbush reiterated a neutral rating and issued a $55.00 price target on shares of Oracle in a research note on Friday, September 13th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $56.76.

ORCL stock traded up $0.16 during midday trading on Monday, hitting $55.47. 3,322,982 shares of the company’s stock were exchanged, compared to its average volume of 8,199,624. The firm has a 50 day moving average price of $55.53 and a 200-day moving average price of $55.01. Oracle has a 12-month low of $42.40 and a 12-month high of $60.50. The stock has a market capitalization of $179.98 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67.

Oracle (NYSE:ORCL) last released its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the prior year, the business posted $0.71 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Oracle will post 3.45 EPS for the current fiscal year.

Oracle announced that its Board of Directors has authorized a share repurchase program on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

In other news, Director Jeffrey Berg sold 9,550 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $56.59, for a total transaction of $540,434.50. Also, EVP Dorian Daley sold 50,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the completion of the sale, the executive vice president now directly owns 50,000 shares in the company, valued at approximately $2,750,500. The disclosure for this sale can be found here. Insiders have sold a total of 76,479 shares of company stock worth $4,223,049 over the last quarter. Insiders own 36.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ORCL. 1 North Wealth Services LLC bought a new position in shares of Oracle in the third quarter valued at approximately $28,000. Winthrop Partners WNY LLC acquired a new stake in shares of Oracle in the third quarter valued at $30,000. C J Advisory Inc acquired a new stake in shares of Oracle in the third quarter valued at $31,000. Next Capital Management LLC bought a new position in Oracle during the second quarter valued at about $36,000. Finally, Shamrock Asset Management LLC grew its holdings in Oracle by 577.0% during the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock worth $39,000 after acquiring an additional 577 shares during the period. 51.09% of the stock is owned by hedge funds and other institutional investors.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Analyst Recommendations for Oracle (NYSE:ORCL)

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