Oracle (NYSE:ORCL) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Oracle (NYSE:ORCL) in a report published on Tuesday morning, AnalystRatings.com reports.

ORCL has been the subject of a number of other research reports. BMO Capital Markets boosted their price target on Oracle from $88.00 to $100.00 and gave the stock a market perform rating in a research report on Tuesday. They noted that the move was a valuation call. Morgan Stanley upped their price target on Oracle from $73.00 to $77.00 and gave the company an equal weight rating in a research report on Wednesday, June 16th. KeyCorp upped their target price on Oracle from $90.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday, July 22nd. Piper Sandler upped their target price on Oracle from $57.00 to $80.00 and gave the stock a neutral rating in a research report on Wednesday, June 16th. Finally, Citigroup increased their target price on Oracle from $69.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, June 16th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $80.04.

Shares of ORCL stock opened at $86.39 on Tuesday. The stock has a market cap of $241.20 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.53 and a beta of 0.80. The business has a fifty day simple moving average of $88.73 and a 200-day simple moving average of $80.39. Oracle has a fifty-two week low of $55.14 and a fifty-two week high of $91.78. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 12.77.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Sunday, September 12th. The enterprise software provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $9.73 billion for the quarter, compared to analyst estimates of $9.77 billion. Oracle had a return on equity of 146.83% and a net margin of 33.96%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. On average, sell-side analysts anticipate that Oracle will post 4.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 26th. Stockholders of record on Tuesday, October 12th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. Oracle’s payout ratio is 30.77%.

In related news, Director Naomi O. Seligman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $87.88, for a total value of $3,075,800.00. Following the transaction, the director now owns 71,724 shares of the company’s stock, valued at approximately $6,303,105.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Boskin sold 37,500 shares of the firm’s stock in a transaction dated Friday, June 18th. The shares were sold at an average price of $76.66, for a total transaction of $2,874,750.00. Following the transaction, the director now directly owns 115,662 shares in the company, valued at approximately $8,866,648.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,000 shares of company stock valued at $30,231,050. 39.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ORCL. Baldrige Asset Management LLC purchased a new position in shares of Oracle during the 2nd quarter valued at approximately $28,000. Financial Insights Inc. purchased a new stake in Oracle in the 2nd quarter worth $28,000. Samalin Investment Counsel LLC purchased a new stake in shares of Oracle during the second quarter worth $28,000. Cowen Prime Advisors LLC purchased a new stake in shares of Oracle during the second quarter worth $31,000. Finally, Harbour Investments Inc. acquired a new position in shares of Oracle during the 1st quarter valued at about $34,000. Institutional investors own 44.47% of the company’s stock.

About Oracle

Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.

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Analyst Recommendations for Oracle (NYSE:ORCL)

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